About Fotech
Fotech is an Energy & Utilities company based in Fleet (United Kingdom) founded in 2008, and was acquired by BP Ventures in February 2020. AI and photonics monitoring solutions are delivered for energy infrastructure. Fotech has raised $9.39 million across 2 funding rounds from investors including bp, SHOAIBI GROUP and BP Ventures. The company has 53 employees. Its chief executive, as recorded, is Chris Shannon. Its focus areas include Energy Tech, Oil & Gas Tech, Upstream and Downhole. Its legal entity is Fotech Group Limited. Its competitors include Silixa, LUX Assure and Servelec Technologies; 2 of its 3 listed competitors have raised funding.
Company details
Fotech is a provider of artificial intelligence and photonics-based monitoring solutions for the oil gas industry and power utility companies. It offers a distributed acoustic sensing solution known as Helios for the oilfield, down-hole or flow-lines, risers, and pipelines to monitor conditions, as well as locate and identify parameters such as pump failure, damage, and leakage. It can be used for high-resolution imaging and data acquisition of oil reservoirs. Provides a software platform which connected with photonics and artificial intelligence system known as LivePIPE to detect and communicate about leaks, abnormal behavior of the system, real-time monitoring, security breach, and monitoring during maintenance activity. Also, offers monitoring solutions for railways, traffic, production industries, and other utility assets.
- Headquarters Fleet, United Kingdom
- Employees 53
- Stage Acquired
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website fotech.com
- Social LinkedIn X
- Acquired by BP Ventures (Feb 2020)
- Legal Name Fotech Group Limited
- Annual Revenue$7.2 M (USD)as on Dec 31, 2017
- Net Profit-$2.22 M (USD)as on Dec 31, 2017
- Total Equity Funding$9.39M (USD)
in 2 rounds
- Investorsbp
& 4 more
- Employee Count53
- Acquired byBP Ventures
(Feb 2020)
Funding Insights of Fotech
Fotech has successfully raised a total of $9.39M across 2 strategic funding rounds. 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 $9.39M
- Total Rounds 2
- First Round $9.39M
(Jun 2008)
- Investors Count 4
All 2 funding rounds of Fotech with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2013 | Series B | – | BP Ventures | – | |
| Jun 2008 | $9.39M | Series A | – | Scottish Equity Partners, SHOAIBI GROUP | – |
5 investors in total: 5 institutional.
Investors in Fotech
Fotech has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include bp, SHOAIBI GROUP and BP Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments in energy technology companies are made by BP Ventures. | bp.com/en/global/bp-ventures | |||
Venture capital firm focused on tech companies | sep.co.uk | London, United Kingdom | ||
Investment in sustainable energy technology companies is facilitated. | evprivateequity.no | Stavanger, Norway | ||
Developer of solar energy projects | 1999 | shoaibigroup.com | Khobar, Saudi Arabia | |
bp is recognized as a global energy company. | 1909 | bp.com | United States |
Investor details for Fotech
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People of Fotech
1 people are tracked at Fotech (1 in leadership); the tracked headcount is 53.
| Name | Role | Group |
|---|---|---|
Chris Shannon | CEO | Leadership |
Complete people profiles for Fotech
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Timeline of Fotech
4 dated milestones of Fotech across 12 years, from founding to its latest funding, stage changes and deals.
- Founded Fotech is founded.
- Funding First funding round of $9.4M.
- Funding Latest funding round, Series B,.
- Exit Acquired by BP Ventures.
Competitors of Fotech
Fotech has 3 listed competitors in our database, 2 of them funded. They include Silixa, LUX Assure and Servelec Technologies.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| silixa.com | 2007 | London, United Kingdom | $18M | 120 | Provider of fibre optic monitoring solutions for the oil and gas industry | |
| luxassure.com | 2001 | Edinburgh, United Kingdom | $9.18M | 16 | Offers advanced chemical monitoring technology for the oil and gas industry. | |
| servelectechnologies.com | 1977 | Sheffield, United Kingdom | 47 | Remote telemetry units and software products for water, oil & mining industry |
Detailed competitors of Fotech
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Top companies in Oil & Gas Technology Solutions
2 companies that operate in the same segment as Fotech (Oil & Gas Technology Solutions) in United Kingdom, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of AI-driven ROVs and services for inspection of ships | 2015 | Bristol, England, United Kingdom | USD 38.48 M | |||
Satellite imagery and geospatial analytics are utilized for water monitoring. | 2012 | Didcot, Oxfordshire, United Kingdom | USD 17.11 M | 46 |
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Frequently Asked Questions about Fotech
Fotech was founded in 2008.
Fotech is headquartered in Fleet, United Kingdom. It is registered at Fleet, Hampshire, United Kingdom.
Chris Shannon is the CEO of Fotech, as recorded in our data.
Fotech is a funded company, having raised a total of $9.39M across 2 funding rounds to date. The company's 1st funding round was a Series A of $9.39M, raised on Jun 2008.
Fotech has 53 employees.
Annual revenue of Fotech is $7.2M as on Dec 31, 2017.
Fotech is a provider of artificial intelligence and photonics-based monitoring solutions for the oil gas industry and power utility companies. It offers a distributed acoustic sensing solution known as Helios for the oilfield, down-hole or flow-lines, risers, and pipelines to monitor conditions, as well as locate and identify parameters such as pump failure, damage, and leakage. It can be used for high-resolution imaging and data acquisition of oil reservoirs. Provides a software platform which connected with photonics and artificial intelligence system known as LivePIPE to detect and communicate about leaks, abnormal behavior of the system, real-time monitoring, security breach, and monitoring during maintenance activity. Also, offers monitoring solutions for railways, traffic, production industries, and other utility assets.
Fotech's top competitors include Silixa, Servelec Technologies and LUX Assure.
Fotech has 5 investors. Key investors include bp, SHOAIBI GROUP, BP Ventures, Scottish Equity Partners, and EV Private Equity.
Fotech operates through Fotech Group Limited.
Yes. Fotech was acquired by BP Ventures in February 2020.