Key Takeaways

  • Applied Computing has raised $20 million for its AI model targeting oil and gas.
  • The model, named Orbital, aims to improve data integration and operational efficiency.
  • The startup plans to expand internationally and enhance its workforce.
  • Partnerships with KBR and Wipro bolster its market presence.

Funding and Vision

Applied Computing, a London-based startup, has secured $20 million in a Series A funding round led by KBR, a major engineering firm, with additional support from Databricks Ventures. Founded in 2023, the company focuses on the oil, gas, refining, and petrochemical sectors, where facilities often rely on thousands of sensors to monitor various parameters.

Challenges in Data Utilization

Despite the wealth of data available, operators typically use less than 8% of it for decision-making, according to Callum Adamson, co-founder and CEO of Applied Computing. The challenge lies in integrating sensor data, engineering documents, and scientific principles quickly enough for effective analysis. Adamson emphasizes the need for real-time communication between these data sources.

Introducing Orbital

Orbital, Applied Computing’s foundation model, distinguishes itself by combining time series analysis, physics-based modeling, and language processing. This approach allows it to predict the operational state of facilities by analyzing sensor data while considering physical and chemical constraints. Technicians can also simulate the impact of changes within the facility, enhancing operational insights.

Efficiency and Market Response

Applied Computing claims that Orbital can identify anomalies and assess their causes within minutes, significantly reducing the time required for investigations that previously took days or weeks. This capability has resonated with clients, as the startup reports rapid growth, achieving double-digit millions in annual recurring revenue in under 18 months. While Adamson refrained from disclosing the exact number of clients, he noted that Orbital is currently utilized by several large, publicly listed companies in the upstream and downstream sectors.

Strategic Partnerships

The startup’s collaboration with KBR has integrated Orbital into KBR’s INSITE 3.0 digital platform, particularly for ammonia production. Additionally, Applied Computing is working with Wipro and plans to announce a partnership with a major European oil company soon.

Market Competition

Despite its promising technology, Applied Computing faces competition from established industrial software providers and other AI startups. Companies like AspenTech and AVEVA offer simulation and modeling solutions, while Cognite and Seeq focus on data analysis and workflow design.

Future Plans

With the new funding, Applied Computing aims to expand its international presence, hire additional research and engineering staff, and explore new deployments with energy clients. The company has opened an office in Houston, complementing its headquarters in London and operational hub in Bengaluru. This U.S. location brings it closer to existing North American clients, with plans for further expansion into the Middle East.