Veerum, a Calgary, Canada-based artificial intelligence platform that predicts and resolves project issues, raised $3.9m in seed funding.
The round was led by Brick & Mortar Ventures with participation from Blackhorn Ventures and Creative Ventures and strategic investors from Alberta, Canada.
The company intends to use the funds to expand into the United States and adapt solutions tested in the energy industry to other, large-scale industrial projects, such as facility construction and mining.
Founded in 2014 by Amit Varma, Scott Benesh and Steve Fisher, CEO, Veerum provides a platform that predicts and resolves issues giving users the ability to dynamically optimize a project throughout the entire lifecycle of design, fabrication and construction.
The Digital Twin platform creates a virtual replica of a physical project or environment that can be used to simulate, operate, and analyze, while also building a single source of actionable information to base decisions upon.
Project teams can view mismatches between plan and reality while tracking progress via a web browser, Computer Aided Design (CAD) stations or in Virtual Reality.
The company is already working with a number of large, Canadian energy clients as well as Wood and GE. It is a participant in Zone Startups Calgary, a Ryerson Futures and GE Canada accelerator.
Veerum has also received support in Canada’s innovation ecosystem through Alberta Innovates, Calgary Technologies Inc., Innovate Calgary, Kinetica, NRC-IRAP and TECTERRA.