Total Energy Ventures leads $12.5m series D funding round for seismic data company.
Total Energy Ventures, the corporate venture capital arm of France-based oil and gas company Total Group, has led the $12.5m series D funding round of Wireless Seismic, a US-based supplier of recording systems for seismic data acquisition. The round, which had been planned at $20m, has closed.
Other investors in the D round were energy company Chesapeake Energy and venture capital firm Energy Ventures, both of which are existing investors. Previously in December 2010, Wireless Seismic raised $19.5m from Chesapeake Energy and Energy Ventures.
Francois Badoual, chief executive officer of Total Energy Ventures, said: “Cable-less is becoming a new standard for land seismic acquisition work, and we are very excited to be investing in Wireless Seismic and to provide growth capital for such a promising technology.”
Christophe Tonion, investment manager, Total Energy Ventures, has joined the board of directors of Wireless Seismic.
