ControlRooms.ai Raises $10 Million in Series A Funding Led by Origin Ventures

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29 Aug, 2023, 11:00 ET

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Round includes Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM Fund, Alpha Square Group and FJ Labs

AUSTIN, Texas, Aug. 29, 2023 /PRNewswire/ -- ControlRooms.ai, the leading provider of AI-assisted troubleshooting for heavy industry, today announced that it has closed an oversubscribed $10 million Series A financing round. The round was led by Origin Ventures, with participation from Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM Fund, Alpha Square Group, and FJ Labs among others.

The funding will be used to accelerate ControlRooms.ai's product development and go-to-market in the chemical, energy, and materials segments of heavy industry. ControlRooms.ai is live at industry leaders such as OCI Global and Ardagh Group.

With the ControlRooms AI-assisted troubleshooting application, teams enhance productivity, minimize downtime, and optimize resource allocation. ControlRooms.ai does not rely on pre-programmed, static rules to identify operational problems. Instead, its AI dynamically learns plant behavior on its own and surfaces issues before humans or alarms can detect them.

ControlRooms.ai is quick to set up and easy to use. Manufacturers can start seeing the value of its turnkey troubleshooting platform within a week–without changes to their current systems or lengthy consulting engagements.

"We are pleased to announce this significant funding round, which will help us make heavy industry safer, cleaner, and more productive," said Monte Zweben, CEO of ControlRooms.ai. "We look forward to working with our new investors to execute on this mission."

"ControlRooms.ai is a pioneering solution for heavy industry operators who have historically relied on archaic systems and processes that depend on human intuition, leading to higher-than-necessary expensive downtime and flaring," said Prashant Shukla, partner at Origin Ventures. "We are excited to partner with Monte and Omar as they bring AI sophistication to the heavy industry software stack."

"Troubleshooting is an all-day, every-day task for manufacturers, yet remains nearly as manual and laborious today as it was in 1980," said Omar A. Talib, President of ControlRooms.ai. "ControlRooms.ai offers a game-changing solution that can help heavy industry reduce surprise events, minimize emissions and maximize efficiency."

"We are excited to partner with ControlRooms.ai," said Yuto Nash Nakanishi, Corporate Venturing Partner at Tokio Marine Future Fund. "We believe that ControlRooms.ai has the potential to revolutionize the way that energy producers operate and mitigate risk."

"As an Austin-based fund, we're excited to help ControlRooms.ai expand its team and customer base in Texas and the surrounding area," said Eric Engineer, Partner at S3 Ventures.

For more information, please contact: [email protected]

About ControlRooms.ai: Detect Sooner, Troubleshoot Faster. ControlRooms is the AI Troubleshooting company. Our SaaS application is the first AI-assisted troubleshooting platform for heavy industry. With ControlRooms, operators and engineers can improve troubleshooting and see around corners. ControlRooms uses advanced AI to shine a light on the trends that matter and identify anomalies across plant systems. ControlRooms is headquartered in Austin, TX. Learn more at controlrooms.ai.

SOURCE ControlRooms.ai, Inc.