Thursday, October 2, 2008

Ingrain Gets $15M

Houston-based Ingrain, which develops technology used in the oil and gas exploration industry, said Thursday that it has raised $15M in a second round of funding for the firm. According to Ingrain, it received the funding from Energy Ventures, Shoaibi Group, Klaveness Invest AS, Kommunal Landspensjonskasse (KLP), and Stanford University, along with its executives. Ingrain is developing digital reservoir rock property measurement technology, which the firm says helps simulate fluid flow measurement in reservoir rocks, allowing oil and gas companies to better understand the potential of their reserves. More information »