Tokio Marine backs ControlRooms.ai
ControlRooms.ai, which offers an AI-assisted troubleshooting solution, has closed a $10 million Series A round led by Origin Ventures, with participation from Amity Ventures, Tokio Marine Future Fund, S3 Ventures, GTM Fund, Alpha Square Group, and FJ Labs among others.
Founded in 2021 and based in Austin, ControlRooms.ai targets the chemical, energy, and materials segment with a solution that promises to enhance productivity, minimize downtime, and optimize resource allocation. The startup claims to leverage machine learning algorithms to analyze plant data in real-time to later surface specific anomalies that could lead to unplanned trips or flaring events. ControlRooms.ai does not rely on pre-programmed, static rules to identify operational problems. Instead, its AI learns plant behavior on its own and raises issues “before humans or alarms can detect them.”
“ControlRooms.ai is a pioneering solution for heavy industry operators who have historically relied on archaic systems and processes that depend on human intuition, leading to higher-than-necessary expensive downtime and flaring. We are excited to partner with Monte and Omar as they bring AI sophistication to the heavy industry software stack.” – Prashant Shukla, partner at Origin Ventures.
“We are excited to partner with ControlRooms.ai. We believe that ControlRooms.ai has the potential to revolutionize the way that energy producers operate and mitigate risk.” – Yuto Nash Nakanishi, corporate venturing partner at Tokio Marine Future Fund.