Ambyint Secures Capital to Accelerate Sustained Customer Growth
Ambyint, the leading provider of AI-powered production and artificial lift optimization software for the energy industry, is pleased to announce the successful closure of its latest capital round and relocation of its head office to Calgary, Alberta. The round was led by existing investors Mercury and Montrose Lane, plus new investors BDC Capital and Accelerate Fund III. This capital will be focused on accelerating customer growth, increasing our sophisticated energy and tech talent, and optimizing product enhancements including expansion of the company’s proven emissions mitigation capabilities.
Ambyint Secures $15 Million to Expand AI-Powered Production Optimization
Ambyint, the leader in AI-powered production and artificial lift optimization, today announced a $15 million Series B funding round led by Cottonwood Venture Partners with additional investment from Mercury Fund and Ambyint’s management team. Building on its successful adoption among oil and gas producers, Ambyint will extend its suite of optimization solutions across all wells and artificial lift systems and grow its Houston and Calgary offices.
Ambyint solutions 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 applies advanced physics-based models, deep subject matter expertise, and artificial intelligence fueled by the industry’s largest repository of labeled, high-resolution training data totaling more than 250 million operating hours. Ambyint has deployed solutions in every major North American basin increasing production, reducing operating expenses, and lowering failure rates for mid- to large-sized operators such as Equinor and Husky.