Trac ID Systems, a Norway-based provider of identification tags for asset tracking and process optimisation in the oil and gas industry and backed by Statoil’s corporate venturing unit, has raised €3m ($4m) from a consortium led by venture capital firm Northzone.
The money will partly be used to deliver on the agreement recently signed with Norway state-owned Statoil for implementing the Trac ID’s products on their fixed drilling rigs on the Norwegian Continental Shelf.
Trac ID Systems was founded in…
