#Canada #Calgary #Climate Investment #SensorUp #Pender Ventures

SensorUp Secures Growth Funding

SensorUp Inc., an operational intelligence platform designed for asset-intensive sectors, announced today the successful completion of a growth funding round aimed at scaling its agentic operations platform. The financing was led by Pender Ventures, with participation from Climate Investment, Evok Innovations, and Occidental Petroleum. The newly acquired capital is intended to expedite the launch of an AI-powered platform already in use by several members of the Oil and Gas Climate Initiative (OGCI) and other regional operators.

This funding round signifies a pivotal moment for SensorUp as it seeks to enhance its technological capabilities in the energy sector and related industries. The platform is utilized to turn fragmented field data, technical records, and sensor streams into actionable workflows that are accessible and verifiable by employees across the organization. For instance, operators leverage the platform to identify underperforming wells before production outages occur, assess flaring and venting events against regulatory limits, coordinate maintenance readiness for thousands of components, detect and mitigate methane leaks, and construct emissions inventories that hold up to scrutiny by regulators and capital markets—all based on a single asset model instead of relying on multiple disparate tools.

The established features of the platform, including asset hierarchy, calculations, review and approval processes, reporting, and workflow coordination, provide clients, advisors, and AI agents with a collaborative framework. This foundation ensures the traceability, security, and scalability required by industries heavily reliant on complex operations. Adding new use cases to the platform can be achieved through configuration rather than new product development, a flexibility that allows it to expand across multiple sectors, including power generation, utilities, mining, and chemicals, where decentralized facilities and multimodal data converge with regulated operations.

Pender Ventures, a venture capital firm focused on companies that advance innovation by replacing legacy systems with modern tools, led the financing round. The firm concentrates on identifying companies whose solutions can demonstrably increase revenue, reduce costs, and improve outcomes. Cheri Corbett, a partner at Pender Ventures, stated, “The industrial software sector has been awaiting a platform that not only stands out architecturally but also possesses the practical credibility to be deployed at scale. SensorUp offers both.” She highlighted that the company’s ontology-based data fabric and its credibility among the most demanding industry players make it a frontrunner that embodies the goals of their fund.

The investment will be allocated across three focus areas aligned with SensorUp's next growth phase:

1. Accelerating Customer Implementation: Enhancing the API framework, improving zero-touch implementation, and scaling expansion through structured prototyping workshops that reduce the time to value from quarters to weeks.
2. Enhancing the Agentic Platform: Investing in advanced AI, modeling, and industry-specific capabilities, including SensorUp's operational AI Agents—production-ready agents that clients utilize on the platform.
3. Promoting Cross-Industry Expansion: Building data infrastructure, go-to-market strategies, and customer success capabilities to support a growing client base and an expanding range of workflows executed on SensorUp.

Julia Hole, CFO of SensorUp, remarked on the necessity of adopting AI strategies among clients who require a trustworthy platform and collaborative partners for designing and developing tailored solutions: “SensorUp emerged from the highly complex field of methane detection, localization, and measurement on a global scale. This foundation naturally positions us to tackle our customers’ next critical data challenge—operationalizing AI for tangible ROI. This funding allows us to implement a roadmap faster, one that actively drives our customers forward.”

About SensorUp

SensorUp is the agentic action system for heavy industry, transforming operational chaos into coordinated execution across distributed facilities, multimodal data streams, and complex workflows. Developed in partnership with some of the world’s largest oil and gas companies, the platform has proven its worth across thousands of decentralized operations. Currently deployed at five OGCI member companies and a growing number of regional operators, expansion into adjacent industries is already underway. The company is headquartered in Calgary, Alberta.

For more information, visit sensorup.com.

About Pender Ventures

Pender Ventures is a venture capital investor focused on health-tech and B2B technology companies at the cusp of commercialization and scaling. As a hands-on investor with a strong conviction in practical engagement, Pender Ventures collaborates closely with founders to accelerate growth and build industry-leading companies. The team is firmly entrenched in Canada’s innovation ecosystem and has the flexibility to invest across North America.

For further details, visit penderventures.com.

About Climate Investment

Climate Investment is an independent specialty investor committed to accelerating industrial decarbonization. They invest in companies that seek to significantly reduce greenhouse gas emissions in energy-intensive sectors while ensuring attractive risk-adjusted returns. The firm aims to amplify the impact of its initiatives through a broad range of investments and collaborations.

For more information, visit climateinvestment.com.

About Evok Innovations

Evok Innovations is a leading venture capital firm that specializes in funding hard-tech solutions for heavy industry, working with outstanding entrepreneurs to scale groundbreaking technologies. Besides capital, they provide deep technical expertise, operational experience, and unparalleled access to the industry through a network of global strategic partners.

For more details, visit evokinnovations.com.

About Occidental

Occidental is an international energy company focused on the exploration, production, and marketing of oil and natural gas, aiming to maximize value while providing essential resources. The company leverages its leadership position in carbon management to advance technologies and lower-carbon products. Headquartered in Houston, Occidental operates predominantly in the United States, the Middle East, and North Africa.

For additional information, visit oxy.com.