About Oiltec Solutions
Oiltec Solutions is a company based in Sandnes (Norway) founded in 2008 was acquired by Aberdeen Drilling in August 2019.. Oiltec Solutions offers products and services including Crane Simulators, Drilling Simulators, E-learning Courses, and Managed Services. Oiltec Solutions operates in a competitive market with competitors including MSC Software, Imaged Reality, Endeavor Technologies, Drilling Systems and Drilling Systems, among others.
- Headquarter Sandnes, Norway
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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 Relyon Nutec Norway As
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Annual Revenue
$15.58 M (USD)3as on Dec 31, 2022
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Net Profit
$-177.9 K (USD)-124as on Dec 31, 2022
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EBITDA
$-579.54 K (USD)-38843as on Dec 31, 2022
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Latest Funding Round
- Investors
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Employee Count
Employee Count
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Acquired by
Aberdeen Drilling
(Aug 27, 2019)
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Products & Services of Oiltec Solutions
Oiltec Solutions offers a comprehensive portfolio of products and services, including Crane Simulators, Drilling Simulators, E-learning Courses, and Managed 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.
Simulators for visualizing port and offshore lifting operations.
Full-sized tools for realistic drilling training and procedures.
Online platforms for oil, gas, and renewables training modules.
Services for training management and competence assessments.
Funding Insights of Oiltec Solutions
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 Oiltec Solutions
Oiltec Solutions has secured backing from 1 investor. Prominent investors backing the company include Aberdeen Drilling. 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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Offers oil and gas training, consultancy, simulation, and e-learning 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 Oiltec Solutions
| 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 - Oiltec Solutions
| 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 |
Oiltec Solutions Comparisons
Competitors of Oiltec Solutions
Oiltec Solutions 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 MSC Software, Imaged Reality, Endeavor Technologies, Drilling Systems and Drilling Systems, 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 |
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| domain | founded_year | HQ Location |
Simulation software is developed for engineering design validation and optimization.
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| domain | founded_year | HQ Location |
Virtual reality applications are developed for oil industry training.
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| domain | founded_year | HQ Location |
Provides real-time software simulations for drilling and well management in energy sector.
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| domain | founded_year | HQ Location |
Offers simulation technology solutions for drilling operations.
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| domain | founded_year | HQ Location |
Offers simulation technology solutions for drilling operations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Oiltec Solutions
When was Oiltec Solutions founded?
Oiltec Solutions was founded in 2008.
Where is Oiltec Solutions located?
Oiltec Solutions is headquartered in Sandnes, Norway. It is registered at Sandnes, Rogaland, Norway.
What is the annual revenue of Oiltec Solutions?
Annual revenue of Oiltec Solutions is $15.58M as on Dec 31, 2022.
What does Oiltec Solutions do?
Oiltec Solutions was established in 2008 in Sandnes, Norway, with a focus on the oil and gas sector. Drilling simulators have been created for advanced drilling and well training purposes. Crane and offshore simulators are also produced to replicate real-life scenarios. These tools are utilized by crews for skill development and operational preparation in the industry.
Who are the top competitors of Oiltec Solutions?
Oiltec Solutions's top competitors include MSC Software, Imaged Reality and Endeavor Technologies.
What products or services does Oiltec Solutions offer?
Oiltec Solutions offers Crane Simulators, Drilling Simulators, E-learning Courses, and Managed Services.
Who are Oiltec Solutions's investors?
Oiltec Solutions has 1 investor. Key investors include Aberdeen Drilling.