About Reelwell
Reelwell is a company based in Stavanger (Norway) founded in 2004.. Reelwell has raised $12.2 million across 4 funding rounds from investors including European Union, Odfjell Technology and Lime Rock Partners. The company has 14 employees as of December 31, 2021. Reelwell offers products and services including DualLink and DualPipe. Reelwell operates in a competitive market with competitors including Nabors, Ulterra, Enhanced Drilling, Pason and Sekal, among others.
- Headquarter Stavanger, Norway
- Employees 14 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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- Legal Name Reelwell As
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Annual Revenue
$4.57 M (USD)98as on Dec 31, 2022
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Net Profit
$-2.83 M (USD)-106as on Dec 31, 2022
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EBITDA
$-2.89 M (USD)-82as on Dec 31, 2022
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Total Equity Funding
$12.2 M (USD)
in 4 rounds
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Latest Funding Round
$3.8 M (USD), Series A
Mar 21, 2025
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Investors
European Union
& 3 more
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Employee Count
14
as on Dec 31, 2021
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Products & Services of Reelwell
Reelwell offers a comprehensive portfolio of products and services, including DualLink and DualPipe. 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.
Provides digital telemetry for reliable downhole drilling efficiency gains.
Enables advanced drilling with redundancy and power for land and offshore use.
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Leadership Team
2 people
Product Management Team
1 people
Sales and Marketing
1 people
Sr. Team
1 people
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Funding Insights of Reelwell
Reelwell has successfully raised a total of $12.2M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3.8 million completed in March 2025. 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 4
- Last Round Series A — $3.8M
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First Round
First Round
(29 Apr 2010)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2025 | Amount | Series A - Reelwell | Valuation |
investors |
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| Oct, 2022 | Amount | Grant - Reelwell | Valuation |
investors |
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| Jun, 2022 | Amount | Series A - Reelwell | 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 Reelwell
Reelwell has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include European Union, Odfjell Technology and Lime Rock Partners. 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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Founded Year | Domain | Location | |
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Solix is recognized as an investment company focusing on B2B.
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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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 Reelwell
| 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 - Reelwell
| 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 |
Reelwell Comparisons
Competitors of Reelwell
Reelwell 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 Nabors, Ulterra, Enhanced Drilling, Pason and Sekal, 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 |
Cloud and app-based onshore and offshore drilling solutions are provided.
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| domain | founded_year | HQ Location |
Manufacturer of polycrystalline diamond compact drill bits
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| domain | founded_year | HQ Location |
Technology solutions for drilling industry
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| domain | founded_year | HQ Location |
Integrated drilling data solutions are provided for real-time optimization.
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| domain | founded_year | HQ Location |
Software solutions for drilling in oil & gas industry
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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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Latest news on Reelwell
Frequently Asked Questions about Reelwell
When was Reelwell founded?
Reelwell was founded in 2004 and raised its 1st funding round 6 years after it was founded.
Where is Reelwell located?
Reelwell is headquartered in Stavanger, Norway. It is registered at Stavanger, Rogaland, Norway.
Is Reelwell a funded company?
Reelwell is a funded company, having raised a total of $12.2M across 4 funding rounds to date.
How many employees does Reelwell have?
As of Dec 31, 2021, the latest employee count at Reelwell is 14.
What is the annual revenue of Reelwell?
Annual revenue of Reelwell is $4.57M as on Dec 31, 2022.
What does Reelwell do?
Reelwell is a Norwegian company focused on providing technology solutions for the drilling industry. The company has developed the Reelwell Drilling Method (RDM) which uses a Dual Drill String with a separate inner pipe for the return fluid from the well. The drilling fluid flows to the bit via the drill string annulus and the return flow to the surface is through an inner string. The technology finds application in Extended Reach Drilling and Managed Gradient Drilling.
Who are the top competitors of Reelwell?
What products or services does Reelwell offer?
Reelwell offers DualLink and DualPipe.
Who are Reelwell's investors?
Reelwell has 4 investors. Key investors include European Union, Odfjell Technology, Lime Rock Partners, and Solix.
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