Sunday, 16 May 2021 11:14 GMT

Saudi Aramco awards USD50M to manufacturing, technology software company

( MENAFN )Saudi Aramco’s investment arm was amid a group of investors who awarded SR187.5 million (USD50 million) to a Seattle-based manufacturing and technology software company.

Seeq Corp. increased the new funds as part of a Series C funding round as the group of investors backing the financing were Altira Group, Chevron Technology Ventures, Cisco Investments, Second Avenue Partners and Saudi Aramco Energy Ventures (SAEV).

The added USD50 million brings Seeq’s total funding since its inauguration in 2013 to around USD115 million. As the breakdown of figures was not given, Seeq stated that SAEV was an existing investor from earlier funding rounds. Seeq enables engineers and scientists to rapidly predict, collaborate, and share insights to increase production and business outcomes for its products. It operates across many sectors, including oil and gas, pharmaceutical, chemical, energy and mining.

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