Ambyint, a Canadian-founded provider of AI-powered production and artificial lift optimization software for the energy industry, has closed funding and relocated its main office to Calgary from Houston.
The investment was from existing investors including Mercury and Montrose Lane, along with new investors BDC Capital and Accelerate Fund III.
Mercury is an early-stage venture capital firm partnering with entrepreneurs to drive innovation across Middle America. Mercury’s investment themes target B2B SaaS and B2B2C marketplace platforms enabling the digital transformation of markets, industries, and customer relationships. Mercury is headquartered in Houston with offices in Austin, Texas, and Ann Arbor, Michigan.
Founded in 2017, Montrose Lane is a growth equity firm based in Houston, Texas. The firm invests in software and energy technology companies of early oil and gas industry adoption and growth capital requirements.
Ambyint Use of Funds
The company will use the funds for customer growth, hiring, and enhancing the technology, including expanding emissions mitigation capabilities. The funding will also support Ambyint's efforts to scale and further develop its AI-enabled optimization platform.
Ambyint is a SaaS company that provides AI-powered optimization software for the energy industry. The platform helps oil and gas producers increase production, reduce operating costs, and minimize their environmental footprint. With a commitment to innovation and sustainability, Ambyint is dedicated to shaping the future of energy production.
Company: Ambyint, Inc.
Funding Month: November 2023
Lead Investors: Mercury and Montrose Lane
Additional Investors: BDC Capital and Accelerate Fund III
Company Website: https://ambyint.com/
Software Category: AI-powered Optimization Software