Validere raises $7 million in seed funding to transform oil and gas trading via artificial intelligence
November 06, 2018 / IoT News
Venture-backed oil and gas IoT and artificial intelligence platform Validere has raised $7 million in seed funding to transform oil and gas trading and logistics through reliable data and Artificial Intelligence (AI) insights. Currently, as the company puts it, oil and gas companies use unreliable product quality data to make critical operational decisions and to address this problem, Validere is using IoT technologies to improve confidence in product quality and AI predictive insights to guide optimal blending, logistics, and trading decisions. This optimisation helps oil and gas companies get up to $9 more out of a barrel, the company claims.