California-U.S based AI company Beyond Limit has raised US$113 million in a Series C round.
Investors include Group 42, an AI and cloud computing company, and existing investor BP Ventures.
The company will use the capital to expand its services further into the US, Europe, Middle East, Africa and Asia.
Apart from its expansion plans, Beyond Limit is also launching its Asia headquarters in Singapore and operations in Hong Kong, Taipei and Tokyo.
Also Read: Singaporean deep tech company Dathena eyes North America growth with new HQ launch
Beyond Limit’s goal is to “drastically” improve operational insights with the help of its cognitive AI technology, which combines human knowledge with machine learning techniques. The company mostly focuses on sectors such as energy, utilities, finance and healthcare.
What makes Beyond Limits different is that the company has developed its AI technology at Caltech’s Jet Propulsion Laboratory, which is a federally-funded R&D centre managed for NASA.
Its AI technology applies human-like reasoning to solve problems, “similar to how humans form conclusions using inference and logic” the company stated.
“Today, we are seeing unprecedented, worldwide demand for systems that go beyond the limitations of conventional AI. Our cognitive software can understand situations and place problems in real-world contexts as well as to learn over time,” said Founder of Beyond Limits AJ Abdallat.
Also Read: Today’s top news, May 15: Singaporean AI company AIQ partners Russian social media VK.com
Before this round, the company had raised US$20 million Series B led by BP Ventures in June 2017, according to Crunchbase.
—
Image Credit: Unsplash
The post Beyond Limit lands US$113M to expand its AI tech into Asia with new HQ in Singapore appeared first on e27.