About CannSeal
CannSeal is a company based in Stavanger (Norway) founded in 2008 was acquired by Interwell in November 2020.. CannSeal has raised $2.2 million across 2 funding rounds from investors including Sumitomo Corporation, Equinor and Interwell. The company has 15 employees as of December 31, 2019. CannSeal operates in a competitive market with competitors including Silixa, Fotech, Raptor Oil, LUX Assure and Servelec Technologies, among others.
- Headquarter Stavanger, Norway
- Employees 15 as on 31 Dec, 2019
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Cannseal As
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Annual Revenue
$1.44 M (USD)21as on Dec 31, 2017
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Net Profit
$-5.83 M (USD)-62as on Dec 31, 2017
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EBITDA
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Total Equity Funding
$2.2 M (USD)
in 2 rounds
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Latest Funding Round
$2.2 M (USD), Series A
Oct 27, 2016
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Investors
Sumitomo Corporation
& 3 more
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Employee Count
15
as on Dec 31, 2019
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Acquired by
Interwell
(Nov 05, 2020)
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Funding Insights of CannSeal
CannSeal has successfully raised a total of $2.2M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $2.2 million completed in October 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $2.2M
- First Round First Round
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2016 | Amount | Series A - CannSeal | Valuation |
investors |
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| Dec, 2015 | Amount | Series A - CannSeal | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CannSeal
CannSeal has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Sumitomo Corporation, Equinor and Interwell. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage startups are targeted for investment by Aramco Ventures.
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Founded Year | Domain | Location | |
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Diversified conglomerate operating across multiple industries
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Founded Year | Domain | Location | |
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Petroleum, natural gas, petrochemicals, and electrical power are produced globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CannSeal
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - CannSeal
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cannseal Comparisons
Competitors of CannSeal
CannSeal operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Silixa, Fotech, Raptor Oil, LUX Assure and Servelec Technologies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of fibre optic monitoring solutions for the oil and gas industry
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| domain | founded_year | HQ Location |
AI and photonics monitoring solutions are delivered for energy infrastructure.
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| domain | founded_year | HQ Location |
Acoustics-based wireless communication tool for in-well deployment
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| domain | founded_year | HQ Location |
Offers advanced chemical monitoring technology for the oil and gas industry.
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| domain | founded_year | HQ Location |
Remote telemetry units and software products for water, oil & mining industry
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about CannSeal
When was CannSeal founded?
CannSeal was founded in 2008 and raised its 1st funding round 7 years after it was founded.
Where is CannSeal located?
CannSeal is headquartered in Stavanger, Norway. It is registered at Stavanger, Rogaland, Norway.
Is CannSeal a funded company?
CannSeal is a funded company, having raised a total of $2.2M across 2 funding rounds to date.
How many employees does CannSeal have?
As of Dec 31, 2019, the latest employee count at CannSeal is 15.
What is the annual revenue of CannSeal?
Annual revenue of CannSeal is $1.44M as on Dec 31, 2017.
What does CannSeal do?
CannSeal is a Norwegian company focused on developing technology solutions for enhanced oil recovery. The company has developed its proprietary annular isolation technology for enhanced oil recovery. The companys tool runs on a standard electrical mono-conductor cable, and the annular plug provides a durable seal after being injected and placed at the predefined location. This is all done in one single wireline operation. The system allows a designer epoxy to be deployed downhole to provide a durable annular seal. The company is a spin-off from the AGR Group.
Who are the top competitors of CannSeal?
CannSeal's top competitors include Fotech, Seal For Life Industries and Acoustic Data.
Who are CannSeal's investors?
CannSeal has 4 investors. Key investors include Sumitomo Corporation, Equinor, Interwell, and Aramco Ventures.
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