Hello Nesh Inc, the Smart Assistant for Oil and Gas has entered into a LOOP contract with Equinor Technology Ventures and raised seed funding from Aristos Ventures. The company will use these funds to make key hires at its Houston-based headquarters, grow its platform and expand deployments of Nesh’s Smart Assistant Technology in North America. Nesh will continue to build towards the ultimate vision of a centralized knowledge agent for the industrial world that can answer technical questions fast and reliably.
The Oil and Gas industry is a cash flow dependent business where speed is important. Companies with the fastest access to data and knowledge win the prize. Increasing amounts of data and inefficient Oilfield software is counter to this speed. Knowledge in an Oil and Gas company is scattered across the entire organization and the steep learning curve of Oilfield Software makes it incredibly difficult to access that knowledge. As a result, time is lost, decisions are delayed, and decision quality is affected.
Nesh is the Smart assistant for the Industrial world starting with the Oil and Gas industry that delivers answers to complex upstream questions in a conversational way, resulting in significant efficiency gains. “We wanted to build an experience where complex industrial knowledge is effortlessly accessible and it takes zero-hours of training time to learn how to use it” says Sidd Gupta, Co-Founder and CEO of Nesh. “With Nesh, users can simply ask their technical questions in a conversational way and receive the answers. Interacting with Nesh is similar to asking a colleague who is available 24x7, works weekends and doesn’t judge.”
“We have decided to support Nesh in the further development of their Smart Assistant technology. We believe that Nesh’s machine learning, artificial intelligence, and natural language processing capabilities could become an integral part of Equinor’s ongoing digitalization effort.” said Rannfrid Skjervold, Managing Director of Equinor Technology Ventures.
Felipe Mendoza, Managing Director of Aristos Venture adds - “Aristos Ventures is looking forward to working with Sidd and the Nesh team to build an AI assistant for industrial companies”
“Securing LOOP funding from ETV and seed funding from Aristos provides us with a unique mix of strategic knowledge and domain expertise, coupled with investment experience in digital technologies, artificial intelligence, and SaaS. This will enable us to further build Nesh’s petrotechnical and natural language understanding and scale our business in the North America market” Gupta adds.
Unlike commercial Smart Assistants like Alexa, Siri or Google Assistant, Nesh provides a level of transparency that is required in an industrial setting. Alongside the answer, she also shows the workflow that was created to generate the answer. This reduces the opacity of the black box, provides an audit trail and helps build trust in the system. Users can also provide positive or negative reinforcement to Nesh and train her to get better over time.
Nesh can answer over 100,000 technical questions as of today and is currently piloting its technology with three mid-size to large operators in North America. They have also partnered with Eunike Ventures and Capital Factory for their accelerator programs.