Bolo AI Raises $8.1M Seed with Custom AI for Energy

In the energy sector, capital project overruns have become the norm. According to McKinsey, 80% of major projects go over budget, by an average of $1.2 billion, while delays can stretch timelines by six months to two years. With more than $3.5 trillion in capital spending globally each year, the inefficiencies are huge. That’s the gap Palo Alto-based Bolo AI is aiming to close with artificial intelligence, by making it the operating system for heavy industries. Founded last year by Diti Sood and Dr. Lalit Jain, Bolo AI just raised an $8.1 million seed round led by True Ventures, with participation from Benchstrength, Accomplice, J Ventures, and Beat Ventures. The funding will accelerate Bolo’s mission to build a “system of action” tailored to frontline industrial workers, an AI-