Cottonwood Venture Partners

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Ambyint Secures $15 Million to Expand AI-Powered Production Optimization

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Ambyint, Cottonwood Venture Partners

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.

Read more at Business Wire