A Sydney startup using robotics to assess critical infrastructure in the global oil and gas industry has raised $15 million after doubling revenue over the past two years.
Abby Solutions previously raised $3.25 million in December 2020, with AirTree again leading the latest investment, backed by the Australian Superannuation Trust.
In the year Founded in 2014 by four Sydney University engineers, the scale counts BP, Exxon, Chevron, Total and Scottish Water among its clients and has built its business in the Middle East, South America and Europe in the energy sector.
The company combines robotics and artificial intelligence to perform dangerous and repetitive tasks in infrastructure inspections. Energy companies are focused on leading the transition to autonomous oilfields by digitizing risk and operating costs and eventually developing technologies to lift their platforms and plants.
Abnormality detection software for on-side maintenance; Abby Fabric provides customers with comprehensive analytics of every inch of their asset base, providing unprecedented asset management and decision-making capabilities. One example is where corrosion was discovered on a gas pipeline that saved the customer $25 million in unplanned shutdowns.