(MENAFN- PR Newswire)
SAN FRANCISCO, Nov. 1, 2024 /PRNewswire/ --
Puloli, Inc., an IoT solutions provider specializing in affordable methane monitoring at scale, announced its second round of funding today.
A group of new investors are joining existing investors in this round of financing. The initial closing in August was followed by an additional closing in October.
"We welcome our new investors to Puloli," said Kethees Ketheesan, CEO of Puloli.
"It is exciting to see the high level of interest in the investment community on what we are doing here at Puloli.
With the company accelerating its growth plan, the timing of this new round of financing is perfect for us."
The company is launching additional basins this year. Last year's commercial launch in Eagle Ford was followed by extensive real-world testing, which is generating demand for the Paradigm M-Series across many regions. The capital raise will allow the company to expand its industry lead in delivering affordable end-to-end monitoring solutions at scale, including the analytics and algorithms that quantify methane mass flow rate. That is the single most critical metric the industry is seeking today, and Paradigm is the only option in the market that offers this as a subscription service.
The fresh influx of capital will be strategically deployed to accelerate Puloli's growth trajectory. The key focus areas include:
Expanding research and development initiatives to enhance the capabilities of the Paradigm M-SeriesTM offerings.
Strengthening operational capacities to support rapid scaling across major energy-producing regions.
Investing in talent acquisition to bolster the company's expertise and technology lead.
Securing the supply chain of critical components of the solution for anticipated rapid growth next year.
Enhancing the test and measurement facilities to conduct expanded testing that will underwrite the Service Level Agreement (SLA) terms of methane quantification.
Paradigm M-Series by PuloliTM is the only true Solution-as-a-Service (SaaS) available for affordable methane monitoring at scale. It is also the only solution underwritten with an SLA, where the quantification data is validated through long-duration in-situ testing in production-like settings.
About Puloli, Inc.
Puloli provides affordable, validated, and attestable methane quantification data as a subscription service.
The basin-wide, non-disruptive service operates 24x7 delivering real-time data via industry-standard APIs.
The services are delivered under the Paradigm by PuloliTM brand utilizing 5G-IoT wireless communications, including Puloli's own private 5G-IoT network where needed.
As an IoT solutions provider for Critical Infrastructure Industries (CII), Puloli is committed to empowering its clients with cutting-edge technology that ensures reliable and efficient monitoring of methane emissions, enabling them to focus on their core business operations.
For more information, visit puloli or email [email protected] .
SOURCE Puloli, Inc.
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