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Nuclearn.Ai Announces $2.5M Series Seed; Round Led By Arizona Focused Venture Fund, Az-Vc

Aug 09, 2023almost 2 years ago

Amount Raised

$2.5 Million

Round Type

seed

PhoenixInformation Technology

Investors

Nuclearn.AiNucleation CapitalUtility Working Conference And Vendor Technology ExpoAz Vc

Description

Nuclearn.ai, a leading provider of AI process automation solutions for the nuclear industry, announced today at the Utility Working Conference and Vendor Technology Expo (UWC 2023) a Seed investment of $2.5M, led by AZ-VC with participation from Nucleation Capital. The round empowers Nuclearn.ai to grow its market leadership in nuclear facilities, scaling access to its AI and machine learning tools that improve how common, time-intensive tasks are managed across a broader array of energy facilities.

Company Information

Company

Nuclearn

Location

1545 W. THOMAS RD.

Phoenix, Arizona, United States

About

Nuclearn automates the routine, so you can focus on the unique. Founded in 2020 by two nuclear industry veterans with a passion for innovation, Nuclearn helps the nuclear power industry safely automate some of its most critical processes. Co-Founders Jerrold Vincent and Bradley Fox first combined their experience from careers in nuclear engineering, business intelligence and process improvement to start the industry’s first in-house data science team at the Palo Verde Nuclear Generating Station in 2016. Soon after, their work was recognized throughout the nuclear industry – resulting in a US-issued patent and the NEI Best of the Best, Top Innovative Practice Award in 2020. Nuclearn was born from the combination of this innovative spirit and the desire to serve the entire nuclear power industry. “We were struck by the opportunity to bridge the gap between the technology required to split atoms and the rest of the industry, which is often antiquated and inefficient. By leveraging the power of artificial intelligence, a fast-growing and transformative technology, we could modernize and streamline processes while also fulfilling our mission of keeping nuclear safe. It's a win-win situation for nuclear power and the clean energy future.” – Bradley Fox, CEO and co-founder "Back in 2016, we saw the potential for AI to solve the challenges facing the nuclear power industry: the need for cost-efficiency and the training and support of the next generation of workers. That's why we founded Nuclearn and dedicated ourselves to applying artificial intelligence to the nuclear industry. We believe that AI is uniquely positioned to address these issues and pave the way for a bright future for nuclear power." – Jerrold Vincent, CFO and co-founder Nuclearn’s software is pre-trained and ready for immediate use, built by nuclear experts specifically for the challenges faced by nuclear.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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