ControlRooms.ai, an Austin, Texas-based provider of AI-assisted troubleshooting solutions for heavy industries, closed an oversubscribed $10 million Series A financing round.
The round was led by Origin Ventures, with participation from investors including Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM Fund, Alpha Square Group, and FJ Labs, among others.
Origin Ventures is an early-stage venture capital firm investing in emerging software, online marketplace, and consumer experience companies capable of exponential growth. The firm was founded in 1999 and is based in Chicago, Illinois.
ControlRooms.ai Use of Funds
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.
ControlRooms is the AI Troubleshooting company for chemical and energy producers. The company’s 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.
Company: ControlRooms.ai, Inc.
Round: Series A
Funding Month: August 2023
Lead Investors: Origin Ventures
Additional Investors: Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM Fund, Alpha Square Group, and FJ Labs
Company Website: https://controlrooms.ai/
Software Category: AI-assisted Troubleshooting Solutions