What You Should Know:
– Beyond Limits, an AI provider that uniquely uses 45 technologies developed at Caltech and NASA’s Jet Propulsion Lab to provide business intelligence for healthcare raises $133M in funding.
– Beyond Limits’ AI predictive model is helping healthcare professionals fight against COVID-19 including determining the percentage of patients that may need ventilators and ECMO in the ICU and dialysis units.
Beyond Limits, an LA-based industrial and enterprise-grade AI technology company built for the most demanding sectors, including energy, utilities, and healthcare, today announced a milestone Series C funding round with $113 million closed and another approximately $20 million committed. This round is led by Group 42, a prominent AI and cloud computing company, and bp ventures, an existing two-time investor and customer of the company.
Beyond Limits’ Cognitive AI applies human-like reasoning to solve problems, much like how humans form conclusions using inference and logic. This unique approach combines encoded human knowledge with available data sources, allowing systems to adapt and continue to operate in situations where data may be in short supply or missing altogether. As a result, Beyond Limits’ customers are able to elevate operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits as a result.
How Beyond Limits is Applying AI in Fight Against COVID-19
The company recently built a Beyond Limits Coronavirus Dynamic Predictive model to help healthcare and governmental leaders predict the impact of COVID-19 on people, medical facilities, and regional recovery plans. The model enables planners to determine logistical responses at national, state, and county levels, as well as estimate the effects of mobility on infectivity.
Beyond Limits collaborated with renowned medical experts from around the world combining their knowledge and expertise with advanced AI technology and modeling/programming capabilities from the company’s origins at the Caltech Jet Propulsion Laboratory.
The dynamic Beyond Limits model leverages COVID-19 case data obtained from a database compiled by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University, in Baltimore, MD, USA. This database is used to predict resource supply and demand; enabling planners to determine logistical responses at national, state, and county levels. The model predicts infection rates, hospitalization rates, and the percentage of patients that will require ICU, ventilators, ECMO, or dialysis care.
The $133M funding will be used to expand Beyond Limits’ business both in the United States and abroad, including the launch of Beyond Limits Asia, with regional headquarters in Singapore and operations in Hong Kong, Taipei, and Tokyo and further expansion across Europe, the Middle East, Africa, and Asia. The funding will also accelerate Beyond Limits’ Cognitive AI application development and SaaS product portfolio and fuel the Beyond Labs R&D program.
“Today we are seeing unprecedented, world-wide demand for systems that go beyond the limitations of conventional AI,” said AJ Abdallat, CEO and Founder of Beyond Limits. “Our cognitive software has the ability to understand situations and place problems in real-world contexts as well as to learn over time. We’re excited to help more customers by applying our unique and powerful AI approach to solve some of the toughest problems facing industries and the world today.”