Data Gumbo Secures $6M in Series A Funding from Venture Arms of Leading International Oil & Gas Companies

HOUSTON–(BUSINESS WIRE)–Data Gumbo Corp., a Houston-based technology company that has developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, announced today completing a $6M Series A equity funding round co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. Data Gumbo’s new capital will be used to expand the company’s commercial blockchain network, in addition to growing the technical, sales and marketing teams at their Houston headquarters and office in Stavanger, Norway. This Series A round brings Data Gumbo’s total funding to $9.3 million. “We enabled the first application of blockchain technology in the offshore drilling industry and will continue to break new ground with applications of BaaS to improve the bottom line of companies of all sizes. Blockchain will have a major impact on the oil and gas industry – and all global industries – and we will lead the charge in its broad adoption for sweeping operational improvements,” said Andrew Bruce, Chief Executive Officer of Data Gumbo. “The partnership with Equinor and Saudi Aramco, and their associated supply chains and partnerships, will provide the momentum for the Data Gumbo… continue reading

Continue reading Data Gumbo Secures $6M in Series A Funding from Venture Arms of Leading International Oil & Gas Companies. This article appeared first on CTRM Center.

Source: CTRM Center

Related Posts

Leave a reply