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
Locked
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Phone
Locked
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Website
Locked
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Social
Locked
- 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
Not available
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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.
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.
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Early-stage startups are targeted for investment by Aramco Ventures.
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Diversified conglomerate operating across multiple industries
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Petroleum, natural gas, petrochemicals, and electrical power are produced globally.
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Investor details for CannSeal
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Investments & Acquisitions by CannSeal
Investment portfolio details for CannSeal
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Financial Statements - CannSeal
Detailed financials for CannSeal
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Cannseal Comparisons
Peer comparison for CannSeal
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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.
| Company Name | Domain | Founded year | HQ Location | Description |
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Provider of fibre optic monitoring solutions for the oil and gas industry
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AI and photonics monitoring solutions are delivered for energy infrastructure.
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Acoustics-based wireless communication tool for in-well deployment
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Offers advanced chemical monitoring technology for the oil and gas industry.
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Remote telemetry units and software products for water, oil & mining industry
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Detailed competitors of CannSeal
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Latest news on Cannseal
Complete news archive for CannSeal
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Frequently Asked Questions about CannSeal
CannSeal was founded in 2008 and raised its 1st funding round 7 years after it was founded.
CannSeal is headquartered in Stavanger, Norway. It is registered at Stavanger, Rogaland, Norway.
CannSeal is a funded company, having raised a total of $2.2M across 2 funding rounds to date.
As of Dec 31, 2019, the latest employee count at CannSeal is 15.
Annual revenue of CannSeal is $1.44M as on Dec 31, 2017.
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.
CannSeal's top competitors include Fotech, Seal For Life Industries and Acoustic Data.
CannSeal has 4 investors. Key investors include Sumitomo Corporation, Equinor, Interwell, and Aramco Ventures.