Nuclearn.ai Announces $2.5M Series Seed; Round Led by Arizona Focused Venture Fund, AZ-VC

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Aug 09, 2023, 08:00 ET

Former PayPal Executive Jack Selby's Venture Firm AZ-VC to Support The Growth of Nuclearn.ai's Footprint And The Delivery of Mission-Critical AI For The Administration of Nuclear and Energy Facilities

PHOENIX, Aug. 9, 2023 /PRNewswire/ -- 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.

The funds will be primarily used for hiring relationship-based sales teams focused on the North American nuclear power market and the general utility market. Nuclearn.ai also plans to continue the development of AtomAssist, its Nuclear Language Model (LLM), and other utility-focused product use cases.

"We are thrilled to support Nuclearn.ai, an Arizona-based company and leadership team that embodies the state's innovative spirit and ability to deliver impactful solutions for often overlooked yet vital business opportunities," stated Ben Brockwell, Partner at AZ-VC. "We were impressed with the Nuclearn team's forward-thinking and commitment to using AI and machine learning to bring efficiencies to recurring time-intensive tasks that can reduce the viability of nuclear and energy plants."

The funding will enable Nuclearn.ai to respond to market demand for AI and machine learning-enhanced offerings to bring more attention to products such as the Nuclear AutoCAP Screener and Nuclearn Evaluator. Additionally, with a strong desire for privacy and security in the nuclear industry, Nuclearn will be able to enhance the delivery of trainable GenAI capabilities in a private, secure fashion.

"With support from AZ-VC and Nucleation Capital, we are ready to expand our reach within the nuclear market," added Jerrold Vincent, co-founder of Nuclearn.ai. "This funding marks a significant milestone in our journey; it enables us to refine our nuclear-specific LLM and to create new opportunities with minor changes to our existing product portfolio."

"Our alignment with the investment theses of AZ-VC, focused on top tech companies in AZ, and Nucleation's focus on nuclear innovation, further cements this strategic partnership," added Bradley Fox, co-founder of Nuclearn.ai. "The nuclear industry's demand for privacy and security meets an emergent market trend in trainable GenAI capabilities, enabling us to pioneer private, secure solutions not only in nuclear but across other utilities as well."

"Nuclearn's focus on deploying AI to enhance the efficiency and performance of nuclear power operations will benefit both the existing nuclear power plant operators as well as the next generation of advanced designs emerging in the coming years," explained Valerie Gardner of Nucleation Capital. "We're thrilled to invest in this industrious and talented team and support their vision of growth within the sector."

For more information about Nuclearn.ai and its offerings, please visit www.nuclearn.ai.

About Nuclearn.ai
Nuclearn.ai offers AI-based solutions tailored for the nuclear industry, helping organizations harness the benefits of artificial intelligence and machine learning technology. With products such as Nuclear AutoCAP Screener and Nuclearn Evaluator, Nuclearn.ai is focused on innovation, privacy, and security in a market aligned with the emergent trends in GenAI. Based in Phoenix, Arizona and at the forefront of knowledge-work automation, they are committed to preserving the knowledge base in nuclear energy to ensure long-term sustainability and viability.

SOURCE Nuclearn.ai