GroundMetrics Garners $1,200,000 Series A Financing

  • Feed Type
  • Date
    9/25/2012
  • Company Name
    GroundMetrics
  • Mailing Address
    5764 Pacific Center Blvd San Diego, CA 92121
  • Company Description
    GroundMetrics, Inc is the world leader in the development of land-based EM sensing and is working with oil, gas, mining, and geothermal companies to commercialize a new class of sensor system and methods and to provide advanced survey and monitoring services worldwide. GroundMetrics, Inc. spun-out of QUASAR Federal Systems (QFS) in 2010 with an exclusive license to productize QFS’s novel electromagnetic sensor technology for resource exploration, management and production.
  • Website
    http://www.groundmetrics.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $1,200,000
  • Transaction Round
    Series A
  • Proceeds Purposes
    GroundMetrics, Inc., a world leader in advanced sensing technologies and noise mitigation methods for geophysical survey applications, today announced that the company leveraged proceeds of a Series A financing to develop prototypes of its unique electric field sensing technology for field system validation tests successfully conducted on a major oil field in the Middle East.
  • M&A Terms
  • Venture Investor
    Tech Coast Angels