BP Ventures said Jan. 28 it has invested $5 million in Belmont Technology’s Series A financing to further bolster BP’s artificial intelligence (AI) and digital capabilities in its upstream business.
The investment supports BP’s ongoing work exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business.
This investment follows BP’s previous deals in cognitive computing, including $20 million in Series B funding in AI company Beyond Limits. That investment is helping deploy AI technology previously used in deep space exploration missions in offshore exploration, accelerating operational insight and process automation across operations. Belmont’s scalable knowledge-graphs can be interrogated by Beyond Limits’ technology for new insights.