Osage University Partners, a venture capital firm that exclusively invests in university startups, has backed fluid data analytics company Seismos in its $4m series A round.
Seismos, a US-based data analytics company specialising in fluid monitoring, has raised $4m in its series A round from a consortium including Osage University Partners.
Osage University Partners, a venture capital fund that invests only in startups commercialising university research, was joined in the round by US-based venture capital firm Javelin Venture Partners and a group of private investors.
Seismos’s technology, through the placement of in-field sensors that report to cloud-based data processing centres, allows for companies to track underground fluid flows, something that previously took months due to the data collection and analysis.
Panos Adamopoulos, founder and chief executive of Seismos, said: “We are entering a new era for the oil and gas industry where technology-driven solutions, particularly via real-time, field-deployed data acquisition and analytics systems, will dramatically reduce the cost of production for our entire industry.”
The funding will be used by Seismos to fund the rollout of its technology and enhance its product.
Adamopoulos went on to say: “Seismos’ solution, especially with the recent commodity price decline and emphasis on efficiency and cost controls, produces a rapid return on investment through immediately actionable information. We are grateful to have the support of investors who bring a wealth of experience and expertise in developing enterprise-class software and building successful energy technology companies.”
