P-1 AI, a San Mateo-based startup building agentic AI for industrial engineering, has raised $50 million in a Series A financing round led by New Enterprise Associates (NEA), bringing its total funding to $73 million following a previous seed round in 2025. The financing brings Jeff Immelt, former Chairman and CEO of General Electric, to P-1 AI’s board of directors, and Lila Tretikov, NEA partner and former Microsoft Deputy CTO, joins as a board observer. New angel investors include Cameron McCord, Nick Marwell, and Jo Zhu Kennedy, joining existing investors such as Jeff Dean, Peter Welinder, and Bob van Luijt. The company intends to use the capital to scale its product and deployment teams, increase headcount, and expand compute resources for training custom models. Founded by Paul Eremenko, P-1 AI develops Archie, an AI-powered engineering assistant for hardware engineering disciplines including mechanical, electrical, thermal, fluids, and systems design, helping industrial teams reduce design cycles and improve productivity across data centers, automotive, and aerospace & defense.