CALGARY, ALBERTA, Nov. 14, 2023 (GLOBE NEWSWIRE) -- 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.
"We have the wind in our sails and are extremely proud to see this transaction close,” said Benjamin Kemp, CEO of Ambyint. “This investment allows us to double down on the energy market and further our AI-enabled optimization platform. Validation from our customers, talented employees, and investors is most welcome as we continue to scale.”
Kemp, who has led the company since 2021, also shared, "Given the uncertainty in the venture capital market, attracting new investors like BDC Capital and Accelerate Fund III, who have followed Ambyint’s journey for several years, demonstrates how far we have come and the exciting future ahead of us."
Ambyint leads the industry with its production optimization capabilities and is rapidly adding sustainability and emissions-related functionality to its platform. This includes the ability to quantify and mitigate both carbon dioxide and methane emissions, contributing to a more sustainable energy industry.
Mercury Managing Director Adrian Fortino, an investor since 2017, said, “We have had the benefit of seeing the Ambyint platform and team develop over the past six years. We believe they are now poised to dramatically expand their industry footprint and improve customer emissions.”
Joseph Regan, Managing Partner from BDC Capital’s Innovation Venture Fund, shared his thoughts on the investment, "Utilizing advanced AI, Ambyint is addressing a significant opportunity in upstream oil and gas by increasing production while reducing GHG emissions. They are leading the charge between their impressive technological progress and respected, industry-leading customers. We believe Ambyint’s AI software will be the standard operating procedure in this sector."
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About Ambyint
Ambyint is a leading provider of AI-powered optimization software for the energy industry. The platform helps oil and gas producers increase production, reduce operating costs, and minimize their environmental footprint. With a commitment to innovation and sustainability, Ambyint is dedicated to shaping the future of energy production. For more information, visit ambyint.com.
About Montrose Lane
Montrose Lane, LP operates as a venture capital firm. The Firm invests in software and energy technology companies of early oil and gas industry adoption and growth capital requirements. Montrose Lane serves investors in the United States. For more information, visit montroselane.com.
About Mercury
Mercury is an early-stage venture capital platform that seeks out transformative Software startups, led by exceptional founders, in communities across America. To date, Mercury has created over $9 billion of value with an operationally-focused venture investment strategy helping startups achieve rapid, sustainable growth. Mercury partners with first-time entrepreneurs who require support and guidance, alongside seasoned founders seeking to leverage the assets and talent of our growth partner network. For more information, visit mercuryfund.com.
About BDC Capital
BDC Capital is the investment arm of BDC, Canada’s business development bank. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
About Accelerate Fund III
Accelerate Fund III is an early-stage angel co-investment fund in Alberta. Managed by Yaletown Partners with the support of The A100, Accelerate Fund III invests in private Alberta companies in knowledge-based industries including: information and communications technology, energy technology, life sciences, agtech and biotech. Alberta Enterprise Corporation is Accelerate Fund III’s lead limited partner with support from other investors including Opportunity Calgary Investment Fund. For more information, visit acceleratefund.ca.
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