Startups continue to infiltrate industrial markets including agriculture and even space. The oil and gas industry isn’t immune to this wave of technological innovation.
In the last few years, multiple analytics and software startups have raised funding to improve energy production. They include Aptomar, focused on on oil-field monitoring and spill detection; Dark Vision, a stealth company focused on “downhole imaging” of oil and gas wells; and Tachyus, which says its data-analytics products can increase oil production 20% to 30%. Tachyus recently received $13M in Series A funding from Founders Fund.
See below for the full list of oil and gas analytics companies to watch.
| Company | Description | Total Disclosed Funding ($M) | Select Investors |
|---|---|---|---|
| WellAware Holdings | Provides an oil-field communications and data solution to manage oil well, pipeline, and safety information. | $45.10 | Activant Capital Group, Carlos Slim, Dick Cheney, Ed Whitacre Jr. |
| Tachyus | Combines analytics software, sensors, and real-time data collection to “optimize energy production.” | $20.86 | Caffeinated Capital, Formation 8, Founders Fund, Streamlined Ventures |
| Seven Lakes Technologies | Cloud-based software that monitors drilling and well data and helps operators reduce costs. | $20.00 | Carrick Capital Partners |
| Rebellion Photonics | Uses hyperspectral imaging to spot and quantify gas releases in real-time to defend against gas leakages or environmental damage. | $14.65 | ARPA-E, Tinicum Capital Partners |
| Runtitle | Online database for mineral ownership information. | $4.00 | Austin Ventures |
| Ubiterra | Allows oil and gas companies to store and manage their well and seismic data in the cloud. | $1.50 | Undisclosed Investors |
| Skynet Labs | Skynet’s web and multi-device tools help oil and gas companies improve efficiency by optimizing data use. | $1.00 | SOSventures |
| Dark Vision | Develops “downhole imaging” technologies for oil and gas wells that provide “sub-millimetric” imagery and 3D models. | $0.40 | BDC Venture Capital, Foresight Clean Accelerator Centre |
| OAG Analytics | Software-based predictive analytics to help drive oil and gas companies’ land acquisition and well planning. | $0.05 | Undisclosed Investors |
| Quantico Energy Solutions | Software for deep analysis of oil-drilling data. | N/A | Shell Technology Ventures, Statoil Technology Invest |
| Aptomar | Provides products for marine surveillance and oil-spill detection. | N/A | Investinor, ProVenture Management, Statoil Technology Invest, Verdane Capital |
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