Seismos and Edison Partners announced a new $15 million growth investment to enable and accelerate the energy industry’s shift from analog-focused exploration and production to digital infrastructure and autonomous production operations.
This growth equity funding will support Seismos’ expansion across the existing oil and gas industry base and into new verticals, such as geothermal and mining that are similarly embracing modern digital infrastructure solutions.
The tools and practices historically used for oil and gas production are hitting their natural limits in generating real-time information – which leads to suboptimal cost structures, production numbers and safety standards. And the new, autonomous, digitized oil and gas field requires next-generation automation and optimization. Through its AI-powered Acoustic Sensing, Seismos is transforming the energy sector with efficient, innovative technology that delivers real-time and actionable intelligence.
The company’s AI technology enables rapid and continuous insights and predictive monitoring for quality control that can create up to 10 times production improvements and cost savings for operators.
Seismos’ topline growth highlights the increasing demand for its innovative solutions. And revenue expanded 800% between Q1 and the fourth quarter of 2023 on a customer base that doubled in the same time period. The company also expects this momentum to continue with further expansion in the Middle East, South America, and Asia. With over 45 patents, Seismos holds a strong intellectual property position, reinforcing its leadership and innovative edge in the industry.
The company’s use cases and applications are compelling to core energy producers and the global energy transition industry at large. And Edison’s investment in Seismos adds to other digital infrastructure investments, such as 120Water, Budderfly, Overhaul, and RTS. Edison has invested in over 260 companies, more than half of which have been in the enterprise solutions space.
KEY QUOTES:
“The new energy age involves all forms of generation in an equilibrium supported by modern technology. Oil and gas markets are moving to a state of autonomous, intelligent, AI-driven operations. With Edison, we’ve partnered with a great operating team to help us grow exponentially as this modernization takes hold.”
– Panos Adamopoulos, founder and CEO of Seismos
“Seismos is leading the evolution of the digital oil field. With a unique, verticalized technology platform and scalable low-cost solution, they’ve created a new market category. Combined with the passion of founder Panos Adamopoulos and expertise of this leadership team, the company fits squarely within Edison’s investment theme of digitizing critical infrastructure, attacking some of the energy industry’s biggest challenges.”
– Ryan Ziegler, general partner at Edison Partners
