We recently announced the launch of Piva as a new VC firm investing in the people, companies and breakthrough technologies ushering in a new industrial and energy era. Today, we’re celebrating a special milestone and are pleased to announce the first investment out of the new Fund in Worlds — a new spatial AI company coming out of stealth that has closed a $10 million Series A round. We are thrilled to be working with the entire Worlds team and join a strong lineup of co-investors including Align Capital, Chevron Technology Ventures and Hypergiant Industries.
“Our spatial AI platform combines artificial intelligence with IoT and 4D models so organizations can see and sense their physical worlds in ways that were never possible before. We chose to partner with Ricardo and the Piva team because they are a visionary, connected and passionate team that understands the complex technical challenges involved in bringing new, bold technologies to market. We see Piva as a huge accelerator for our business.”
— Dave Copps, Co-Founder & CEO, Worlds
The Critical Role of AI and Automation in the Future of Industry
The digital revolution has been transforming the world for years but it’s just now reaching industry, leading to the next phase or “Industry 4.0.” Over the next decade, advances in AI, computing power, connectivity capabilities, and data analytics will lead to more efficient industrial processes, create new market opportunities, and bring more reliable, sustainable and affordable energy.
Emerging AI and automation companies like Worlds will play a critical part in the future of industry. We’re seeing many corporations in verticals such as oil and gas, manufacturing and logistics, investing in hardware solutions often generating too much data without getting valuable insights. As the number of IoT devices continues to grow (which is estimated to reach 500 billion by 2030), so will the need for AI and machine learning solutions to help manage the massive influx of data these devices will create.
From the investor perspective, we’re also seeing many companies emerge in AI and Industrial IoT (IIoT) that focus on these specific verticals to bring new solutions that help these industries become more efficient. Solutions range from helping corporations gather and structure data, analyze data and generate insights to improving specific applications such as safety and security or quality control.
We believe that improvements in connectivity, computing and materials will lead to better and cheaper IoT devices, providing a higher value and return to customers and investments.
Enter Worlds: Building AI Powered Models of the Real World
Worlds, a spin out from Hypergiant Sensory Sciences, is building breakthrough products for energy, the DoD and other markets seeking higher levels of automation that lead to significant increases in efficiency, productivity, enhancements in safety and security and dramatically lowers costs. The company allows organizations to learn operational insights by looking at field data and identifying patterns and anomalies in the real world.
While other companies in the space are developing 3D models or leveraging computer vision to address similar needs, we haven’t seen anyone put the pieces together like Worlds — whose spatial AI platform combines deep learning and IoT inside of a 4D environment to give organizations the ability to remotely observe, analyze, learn and more efficiently operate in their physical surroundings. The technology is a first of its kind extended reality platform that can be a game changer in industries and companies interested in radically improving the way they run their businesses by leveraging digital innovation.
The Piva team has been long impressed with Worlds’ co-founders, CEO Dave Copps and COO Chris Rohde, who we knew from their previous companies. We’ve seen them build great teams, great companies and great technologies before, and we’ve been highly looking forward to seeing what they do next.
Our investment in the company stems from our confidence in their world-class team and the belief that their technology has true potential to transform industry as we know it. Utilizing deep industry knowledge with the ability to target specific verticals, Worlds provides a platform that is flexible and customizable so that customers can leverage its full potential.
We see enormous promise in the automation capabilities Worlds’ unique technology is bringing to physical environments and the field and are excited to join the team on their journey in transforming the future of industry.