London-based startup Applied Computing has raised a $20 million Series A funding round led by KBR, with participation from Databricks Ventures, as it expands its artificial intelligence platform for the oil, gas and petrochemical industries.
Founded in 2023, the company is developing Orbital, a foundation AI model that it says is designed to monitor and predict the operating state of industrial facilities by combining sensor data, engineering documentation, and physics and chemistry models.
Chief Executive Officer Callum Adamson said operators often collect large amounts of operational data but struggle to combine information from multiple sources quickly enough to support decision-making.
“It’s getting those three data sources to talk to each other in real time. That’s the real key,” Adamson said.
Unlike large language models that predict the next word in a sequence, Applied Computing said Orbital combines a time-series model, a physics-based model and a language model to analyse facility operations. The company said the system can also simulate how changes in one part of a plant could affect the rest of its operations.
Applied Computing said Orbital is intended to identify anomalies, investigate their causes and assess the impact of potential fixes within minutes. Adamson said the platform can reduce investigations that previously took days or weeks to complete to seconds, helping operators lower energy use while maintaining output.
The startup said it has grown from operating in stealth mode to generating double-digit millions in annual recurring revenue in less than 18 months. Adamson said Orbital is being used by several “large, publicly listed” companies in the upstream oil and gas, downstream refining and petrochemicals sectors, but declined to disclose customer numbers.
Partnerships and expansion
Applied Computing’s partners include Wipro and KBR, which has integrated Orbital into its INSITE 3.0 digital platform for energy projects and is using the technology for ammonia production.
Adamson also said the company is working with a “major U.S. upstream operator” and expects to announce a partnership with a European oil company in the coming weeks.
The company enters a market that includes established industrial software providers such as AspenTech and AVEVA, along with industrial AI companies including Cognite and Seeq.
Adamson said Applied Computing’s competitive advantage lies in assembling AI researchers capable of developing its foundation model rather than access to industrial data alone.
“It’s an AI problem. It’s not a data problem, and it’s not an energy problem,” he said. “If you’re a tier-one AI researcher, where are you going to work? … I don’t think Shell’s on that list.”
He added that operational data collected through customer deployments provides an advantage because refinery and industrial plant data is generally not publicly available, while simulated datasets cannot fully replicate real-world operating conditions.
Applied Computing said it will use the new funding to expand internationally, recruit research and engineering staff, and broaden deployments with energy customers.
The company also announced the opening of a Houston office, complementing its headquarters in London and its operational hub in Bengaluru. Adamson said the U.S. office will support existing North American customers, while the company is also planning an expansion into the Middle East.
TL;DR:
Applied Computing has raised $20 million in Series A funding to expand Orbital, its AI platform for oil, gas and petrochemical facilities. The company plans international expansion, hiring and additional deployments with energy customers.
Key points:
- Applied Computing raised a $20 million Series A led by KBR, with Databricks Ventures participating.
- Its Orbital AI model combines sensor data, engineering documents and physics-based models to monitor industrial facilities.
- The startup said it has reached double-digit millions in annual recurring revenue in under 18 months.
- KBR has integrated Orbital into its INSITE 3.0 platform, while Wipro is also a partner.
- The company opened a Houston office and plans expansion into the Middle East.
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