Beyond Limits, a developer of industrial and enterprise-grade AI tech, has raised $133m to expand in the U.S. and internationally. The round — led by AI cloud company Group 42 and BP Ventures, the energy firm's investing arm — brings the Glendale, California-based firm's fundraising to nearly $160m.
- The company sells Cognitive AI software that solves real-world problems in sectors like utilities, energy, and health care as it learns over time.
- So far, it's helped to develop a COVID-19 forecasting model and predict maintenance at power plants to reduce carbon impacts, among other solutions.
- Its tech relies on several dozen technologies developed at Caltech and NASA’s Jet Propulsion Lab.
- Beyond Limits said it will use the capital to expand in the U.S. and elsewhere. It's planning a regional headquarters in Singapore and further operations in Hong Kong, Taipei, and Tokyo. It will also further fund its R&D program and develop its Cognitive AI app and SaaS products.