BP Ventures is a corporate investment arm of global energy business, BP
Beyond Limits will use the funding to accelerate the delivery of industrial-grade AI software, which was earlier used in deep space exploration missions.
The software will offer the energy sector with improved operational insight, business optimization and process automation across all operations.
For oil and gas companies, Beyond Limits's AI software will enable to improve their quality of decision making and manage operational risks.
Established in 2012, Beyond Limits provides AI and cognitive computing services, which will help to deal with industrial and enterprise challenges.
The BP and Beyond Limits partnership is expected to bring a change in the way BP locates and develops reservoirs, produces and refines crude oil and markets and supplies refined products.
Beyond Limits CEO AJ Abdallat said: “We are the AI company that provides solutions for problems that cannot be solved using traditional approaches.
“Our goal is to create automated solutions that can think like humans and augment human capability.”
BP Ventures Americas managing director said: “BP Ventures is excited to help Beyond Limits grow into new verticals, as we bring forward the pioneering work they have developed with the space program to our industry and throughout our businesses."
Since 2006, BP Ventures has been investing in private, high growth, and game-changing technology companies. It has invested over $325m in corporate venturing and has 41 active investments in its current portfolio.
