About Geomec
Geomec is a company based in Stavanger (Norway) founded in 2002.. Geomec has raised $2.6 million across 3 funding rounds from investors including Gov.uk, Norwegian Research Council and Aramco Ventures. The company has 6 employees as of December 31, 2021. Geomec offers products and services including Subsurface Engineering Services. Geomec operates in a competitive market with competitors including Bluware, Lotus Creek, NobleGas Scientific, Deepsinai and EmPact AI, among others.
- Headquarter Stavanger, Norway
- Employees 6 as on 31 Dec, 2021
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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
*********
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Annual Revenue
$746.32 K (USD)-15as on Dec 31, 2021
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Net Profit
$28.55 K (USD)125as on Dec 31, 2021
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EBITDA
$28.55 K (USD)125as on Dec 31, 2021
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Total Equity Funding
$2.6 M (USD)
in 3 rounds
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Latest Funding Round
$2.6 M (USD), Series A
Aug 17, 2016
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Investors
Gov.uk
& 2 more
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Employee Count
6
as on Dec 31, 2021
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Products & Services of Geomec
Geomec offers a comprehensive portfolio of products and services, including Subsurface Engineering Services. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Services for enhancing oil recovery and managing CO2 storage safely.
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Funding Insights of Geomec
Geomec has successfully raised a total of $2.6M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $2.6 million completed in August 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 3
- Last Round Series A — $2.6M
- First Round First Round
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2016 | Amount | Series A - Geomec | Valuation |
investors |
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| Jan, 2015 | Amount | Grant - Geomec | Valuation |
investors |
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| Dec, 2013 | Amount | Grant - Geomec | 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 Geomec
Geomec has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Gov.uk, Norwegian Research Council and Aramco Ventures. 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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Online government services and information are provided to users.
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Founded Year | Domain | Location | |
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Research policy advice is provided to the Norwegian government.
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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 Geomec
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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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 - Geomec
| 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 |
Geomec Comparisons
Competitors of Geomec
Geomec 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 Bluware, Lotus Creek, NobleGas Scientific, Deepsinai and EmPact AI, 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 cloud and AI-driven analytics solutions for the oil and gas upstream industry
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| domain | founded_year | HQ Location |
Oil and gas exploration platform
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| domain | founded_year | HQ Location |
Produces high-quality ultra-high vacuum systems for industrial and scientific applications.
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| domain | founded_year | HQ Location |
DeepsinAI utilizes AI and machine learning for oil and gas efficiency improvements.
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| domain | founded_year | HQ Location |
AI-powered SaaS for accurate 3D subsurface infrastructure analysis and cost reduction.
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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 Geomec
When was Geomec founded?
Geomec was founded in 2002 and raised its 1st funding round 11 years after it was founded.
Where is Geomec located?
Geomec is headquartered in Stavanger, Norway. It is registered at Stavanger, Rogaland, Norway.
Is Geomec a funded company?
Geomec is a funded company, having raised a total of $2.6M across 3 funding rounds to date.
How many employees does Geomec have?
As of Dec 31, 2021, the latest employee count at Geomec is 6.
What is the annual revenue of Geomec?
Annual revenue of Geomec is $746.32K as on Dec 31, 2021.
What does Geomec do?
Geomec was founded in 2002 in Stavanger, Norway, with a focus on the oil and gas sector. Software solutions and subsurface injection services are provided to support operations in disposal, pressure-support, and shale-stimulation wells. The GeoTool Inject platform is utilized for monitoring and analysis of injection activities. Operations are centered in Norway, serving international energy companies through specialized tools for subsurface management.
Who are the top competitors of Geomec?
Geomec's top competitors include Bluware, Lotus Creek and NobleGas Scientific.
What products or services does Geomec offer?
Geomec offers Subsurface Engineering Services.
Who are Geomec's investors?
Geomec has 3 investors. Key investors include Gov.uk, Norwegian Research Council, and Aramco Ventures.