CruxOCM
Assembly Line
CruxOCM closes $23.3-million CAD Series A led by Microsoft’s venture fund
Calgary-based startup CruxOCM, which provides software that automates the operations of industrial control rooms in the energy sector, has raised a $23.3-million CAD ($17 million USD) Series A round led by M12, Microsoft’s venture fund. The round saw participation from other new investors, including natural gas company Oneok, Raven Indigenous Capital Partners, and EIC Rose Rock Fund, as well as backing from return investors including Angular Ventures, Bullpen Capital, Root Ventures, Industry Ventures, Cendana Capital, Pipeline Capital Partners, and Golden Ventures.
CruxOCM said the Series A round brings its total capital raised to date up to $37 million CAD ($27 million USD). The investment will enable CruxOCM to bring its co-pilot offering to more control rooms across the energy sector, CEO and co-founder Vicki Knott said in a statement.