P-1 AI Raises $50M Series A

P-1 AI, a San Mateo-based startup building agentic AI for industrial engineering, has raised $50 million in a Series A financing round. This latest investment brings the company total funding to $73 million, following a previous seed round in 2025.

Investors

The Series A round was led by New Enterprise Associates (NEA). The financing also brings Jeff Immelt, former Chairman and CEO of General Electric, to P-1 AI’s board of directors. Lila Tretikov, NEA partner and former Microsoft Deputy CTO, joins as a board observer. New angel investors include Cameron McCord, Nick Marwell, and Jo Zhu Kennedy, joining existing investors such as Jeff Dean, Peter Welinder, and Bob van Luijt.

P-1 AI Use of Funds

The company intends to use the capital to scale its product and deployment teams, increase its headcount, and significantly expand the compute resources required for training custom models tailored to specific customer needs.

About P-1 AI

Founded by Paul Eremenko, P-1 AI develops Archie, an AI-powered engineering assistant built for hardware engineering disciplines including mechanical, electrical, thermal, fluids, and systems design. The platform integrates with existing engineering workflows and tools to help industrial teams reduce design cycles, expand engineering capacity, and improve productivity across industries such as data centers, automotive, and aerospace & defense.

Funding Details

Company Website: https://p-1.ai

Company: P-1 AI
Raised: $50M
Round: Series A
Funding Date: July 2026
Lead Investor: New Enterprise Associates
Additional Investors: Cameron McCord, Nick Marwell, Jo Zhu Kennedy
Company Website: https://p-1.ai
Software Category: Artificial Intelligence
Source: https://www.globenewswire.com/news-release/2026/07/29/3335235/0/en/engineering-ai-startup-p-1-ai-announces-its-series-a-financing-led-by-nea-adding-jeff-immelt-to-the-company-s-board.html