ControlRooms.ai, a leading provider of AI-assisted troubleshooting for heavy industry, has successfully closed an oversubscribed $10 million Series A financing round. The funding round was led by Origin Ventures and saw participation from several investors, including Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM Fund, Alpha Square Group, and FJ Labs.
The newly acquired funds will be directed towards accelerating ControlRooms.ai’s product development efforts and expanding its presence in the chemical, energy, and materials sectors within the heavy industry. The company’s AI-assisted troubleshooting application is already in use by major industry players like OCI Global and Ardagh Group.
ControlRooms.ai’s unique approach to troubleshooting utilizes dynamic AI learning rather than relying on pre-programmed rules. This enables the system to learn the behavior of industrial plants on its own, proactively identifying operational issues before human intervention or alarms become necessary. The solution is designed for quick setup and ease of use, allowing manufacturers to experience the benefits of its troubleshooting platform within a short timeframe.
Monte Zweben, CEO of ControlRooms.ai, expressed his enthusiasm for the funding round and the company’s mission to improve heavy industry’s safety, environmental impact, and productivity. Prashant Shukla, a partner at Origin Ventures, emphasized the innovation ControlRooms.ai brings to the industry and its potential to revolutionize heavy industry operations.
ControlRooms.ai aims to address the historically manual and labor-intensive nature of troubleshooting in manufacturing, which often leads to downtime and inefficiencies. By introducing AI sophistication to the heavy industry software stack, the company seeks to minimize unexpected events, emissions, and maximize efficiency.
Tokio Marine Future Fund’s Corporate Venturing Partner, Yuto Nash Nakanishi, stated that they believe ControlRooms.ai has the capacity to transform the energy production landscape and mitigate risks. Eric Engineer, Partner at S3 Ventures, also expressed excitement about assisting ControlRooms.ai’s expansion efforts in the Texas region.
