Ambyint Raises $15M in Series B Funding

Funding Rounds

▤ Summary

Ambyint, a Houston, TX-based provider of AI-powered production and artificial lift optimization solutions, raised $15m in Series B funding. The round was led by Cottonwood Venture Partners with participation from Mercury Fund and Ambyint’s management team. The company intends to use the funds to extend its suite of optimization solutions beyond oil and gas producers across all wells and artificial lift systems and grow its Houston and Calgary offices. Led by Alex Robart, CEO, and Ryan Benoit, CTO, Ambyint provides AI-powered optimization solutions for the oil and gas industry, which optimize producers’ wells at-scale by automating detection of production and equipment anomalies, recommending controller setpoint changes, and providing production vs. plan analytics to enable real-time corrective decisions. The company has deployed solutions in every major North American basin.

$ Funding

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Amount $15.0M Total raised
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Date February 4, 2020 Announcement date
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Investors - Lead investors
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Company ambyint.com Funded company

▥ Classifications

industries
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applications
Scheduling

◇ AskAI Classifications

Labels
Artificial Intelligence Energy Software Production Optimization Software

▦ Linked Companies

Ambyint
$1M to $5M