CruxOCM, a Calgary, AB-based leader in robotic industrial process automation (RIPA™) for control room operations, raised $9M in venture financing.
The total funding to date builds off of a venture round of $2.6M in 2019 co-led by Angular Ventures and Root Ventures. The most recent round (approx $6.4m) was led by Bullpen Capital, with participation from Angular Ventures, Root Ventures, Golden Ventures, Cendana Capital and Industry Ventures.
The company intends to use the funds:
– to grow its product lines, increase the efficiency of its installation process,
– continue expanding its team across North America
– bolster installations so that it can expand across client asset bases faster and begin pursuing additional product lines into gas plants, gas pipelines and offshore facilities.
Led by Vicki Knott, co-founder and CEO, CruxOCM provides Crux Operations Control Management, which delivers innovative operations control management software that addresses the complexity and inefficiencies associated with standard operations control rooms, from maximizing & optimizing flow rates to streamlining critical start-up and shut-down procedures.
RIPA is the foundational technology on which the company’s automation solutions gatherBOT and pipeBOT are built.
gatherBOT™ represents a solution in oil and natural gas gathering system transportation and storage. By deploying Robotic Industrial Process Automation (RIPA), CruxOCM creates operation that puts control room operators first, while maximizing storage capacity, flow efficiency and ultimately, profits.
pipeBOT™ is a solution for oil and gas transmission pipelines, enabling control room operators to maximize pipeline flowrate and economically manage batch handling, all while ensuring pipeline integrity which reduces maintenance costs over time.