Thursday, July 3, 2014

Veros Systems Gets Funding From Shell

Austin-based Verus Systems, which develops software and other technology for industrial asset monitoring, has snagged some additional investment, this time from Shell Technology Ventures. Veros said Wednesday that Shell has joined an investor list that also includes Austin Ventures, Chevron Technology Ventures and LiveOak Venture Partners. Size of the new investment was not disclosed. Veros develops industrial asset monitoring systems used, among other places, in the oil and gas industry. The company says its system is the only one with a dashboard and real-time, early warning systems for detecting issues with those industrial asset systems--the company said its systems are particularly useful for motor control systems found top-side in off-shore and subsea applications.