Tuesday, September 22, 2020

Beyond Limits Takes $133M For AI Efforts

Los Angeles-based Beyond Limits, a startup which is developing artificial intelligence software for the industrial and enterprise market, said this morning that it has raised $133M in a Series C funding round. According to the company, it has closed on $113M of that funding, with another $20M committed in the round. The funding was led by Group 42 and bp ventures. Beyond Limits is led by CEO and founder AJ Abdallat. The company says its artificial intelligence software "human-like reasoning to solve problems, much like how humans form conclusions using inference and logic." The company says its software is based on software originally developed at Caltech's Jet Propulsion Laboratory for NASA space missions. Beyond Limits said the new funding will go to expand its business, both in the US and abroad; the company says it will use some of that funding to Beyond Limits Asia, with regional headquarters in Singapore and operations in Hong Kong, Taipei and Tokyo, as well as expansion across Europe, the Middle East, Africa and Asia. More information »