Osprey Informatics, a provider of intelligent visual monitoring solutions for industrial operations, today announced that it has closed a US$3.75 Million CAD investment round led by Shell Ventures LLC and Evok Innovations, with participation from InterGen Capital and current shareholders. The investment will be used to drive sales expansion and to bring to market additional artificial intelligence-enabled solutions, including methane detection.
More than thirty North American energy companies use Osprey Reach to reduce operating costs, while mitigating environmental and safety risks. The company’s Software as a Service (SaaS) platform, Osprey Reach, cost-effectively manages remote cameras at a massive scale, analyzes images and video with artificial intelligence and input from other sensors and data systems, and delivers actionable insights to users across the enterprise.
“We are thrilled to partner with Shell Ventures, Evok Innovations and InterGen Capital,” said Rob Logan, CEO of Osprey Informatics. “This strategic investment provides not only capital, but also access to global energy leaders. We are now well positioned to grow our deployments throughout the Industrial IoT.”
“Enabled by augmented intelligence and machine learning, our industry is undergoing rapid change. We see Osprey’s technology as a core component of this digital transformation, with proven operational benefits and promising methane detection potential,” said Michael Crothers, President and Country Chair, Shell Canada.
“Osprey’s technology has tremendous potential to easily integrate into customers’ operations and drive immediate economic and environmental benefits,” said Marty Reed, CEO of Evok Innovations. “We are excited to join Shell Ventures and InterGen Capital to help accelerate Osprey’s growth.”
Brian Felesky and Jim Gray of InterGen Capital, see Osprey as an ideal fit for its new fund. “Osprey has the ability to bring measurable efficiencies and improvements to the oil and gas sector,” said Felesky and Gray. “We are pleased to see such remarkable, industry-focused innovation happening here in Calgary.”
Read the article online at: https://www.oilfieldtechnology.com/special-reports/17122018/osprey-informatics-secures-financing-for-intelligent-visual-monitoring-platform/