Osage University Partners has put up additional capital for oil and gas fluids monitor developer Seismos, which was founded by students from University of Texas.
Spinout-focused investment firm Osage University Partners has returned to back a $10.5m round for US-based oil and gas fluid monitor developer Seismos led by natural resources-orientated investment firm Quantum Energy Partners.
Venture firms Javelin Venture Partners and ATP Fund also supplied Seismos with funding, as did Hicks Oilfield and unspecified existing investors.
Founded in 2013, Seismos operates a monitoring and evaluation platform for oil and gas producers that mainly helps assess the best drilling fluid for hydraulic fracturing, also known as shale gas, projects whereby difficult-to-permeate shale rocks are carefully cracked open to extract gas.
Seismos’s technology, Seismos-FracTM, utilises data from sensors monitoring the shale’s fracture network and geometry to provide live insights to the client.
Proceeds from the round will facilitate Seismos’s growth strategy and fuel further product development as the company looks to build on business secured with shale producers in the US.
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