Mintmesh Closes a Multimillion Dollar Round to Expand Its AI-Driven Engineering Language Processing (ELP) Technology and Fuel Rapid Growth in the EPC Market
Nov 3, 2021
Digital Transformation in the EPC Industry
Using ELP and AI to Transform and Assist
Mintmesh, a Detroit-based software company, today announced a new multimillion-dollar seed round investment, funded by New York City-based Private Equity firm, Bridge Lake Partners. The raise will fund the build-out of the software development team and fuel continued global expansion in the EPC market.
Mintmesh, a pioneer in using artificial intelligence and computer vision in the engineering industry, has created a digital platform to enable the end-to-end processing of technical evaluations and knowledge management of engineering equipment.
Mintmesh's cloud-based digital platform RUDY significantly enhances and accelerates the operational effectiveness of engineers during project bidding and execution phases. RUDY is created to digitally transform technical evaluation processes for large capital-intensive projects that currently experience significant delays from aging, time-consuming methods.
"We've seen a significant shift in the EPC industry in the last 12 months; there is significant consolidation within the industry and a huge realization that digital transformation is necessary to stay competitive," said Trevor Bardallis, Chief Executive Officer, Bridge Lake Partners. "We chose to invest in Mintmesh because we see it as a transformative technology that creates value for companies with capital intensive projects".
Mintmesh's CEO, Sunil Chathaveetil, said, "Mintmesh is thrilled to welcome Bridge Lake Partners as an investor in our growing company. This year, we have added top talent to our team and expanded into the energy corridor. With RUDY, we are automating and transforming the traditionally cumbersome, slow, and costly process of technical evaluations. We're also excited by recent developments in the market, as a Top 10 EPC company has recently chosen RUDY for its North American operations."
Sunil continued, "While we are receiving significant interest from the Oil and Gas industry, this growth funding enables us to dramatically increase our reach and market presence, scaling to meet the needs of the entire EPC industry. Having Bridge Lake as part of our investment and board team will help guide Mintmesh to deliver the highest possible value to our clients."
"The engineering technology market has traditionally been one of the most underserved by innovation, and we believe digital transformation is on a fast track as it becomes a necessity for survival. The future winners in this industry absolutely require advanced digital platforms to efficiently scale their businesses. We found Mintmesh to be the first company solving a difficult problem solely devoted to engineers and ELP," said Trevor J. Bardallis, Founder at Bridge Lake Partners.
About Mintmesh
Mintmesh Inc is a Detroit, Michigan-based software provider for engineering, procurement, and construction companies. Mintmesh operates out of Houston, Richmond and Detroit, with support from its thought center and research arm in Bengaluru, India. Mintmesh's digital platform RUDY is used by engineers, suppliers, owners, and operators to manage technical evaluation processes and knowledge management. Learn more about how we help engineers transform their business at www.mintmesh.ai
About Bridge Lake Partners
Bridge Lake Partners is a New York City-based Private Equity Firm. Bridge Lake partners with disruptive software companies that are focused on digital transformation in industries lagging in technological innovation. Bridge Lake typically invests in early-stage companies from seed round to Series A. To learn more about Bridge Lake Partners you can reach out at [email protected]
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Original Source: Mintmesh Closes a Multimillion Dollar Round to Expand Its AI-Driven Engineering Language Processing (ELP) Technology and Fuel Rapid Growth in the EPC Market
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