Artificial intelligence technology company Beyond Limits raised $113 million in a Series C funding round, with another $20 million committed.
Leading the investment in the Glendale company was Group 42, a cloud computing company in Abu Dhabi, and BP Ventures, the corporate investment arm of global oil company BP plc, in London.The money will go toward expanding Beyond Limits’ business in the U.S. and abroad, including the launch of Beyond Limits Asia. The funding will also go into accelerating the company’s cognitive AI app development and software-as-a-service product portfolio.
Chief Executive AJ Abdallat said there is demand across the globe for systems that go beyond the limits of conventional AI.“Our cognitive software has the ability to understand situations and place problems in real-world contexts as well as to learn over time,” Abdallat said in a statement. “We’re excited to help more customers by applying our unique and powerful AI approach to solve some of the toughest problems facing industries and the world today.”Beyond Limits is commercializing AI software developed by NASA Jet Propulsion Laboratory in La Canada-Flintridge. The software is used in deep space missions, including on the Mars rovers. The company has an exclusive license from the California Institute of Technology, which manages JPL, for the AI software that is primarily used in the energy industry.