Andium
Assembly Line
Andium Raises $21.7 Million in Series B Funding Led by Aramco Ventures to Cut Greenhouse Gas Emissions
Andium, an expert in Industrial Internet of Things (IIoT) remote-field monitoring and communications technologies, announced its $21.7 million Series B funding close led by Aramco Ventures, the corporate venture arm of one of the world’s largest integrated energy and chemicals companies. Joining the round are existing investors Climate Investment, Intrepid Financial Partners, and prominent individual investors including former Citadel CIO, Thomas Miglis. Following the company’s $15M Series A in 2021, this investment brings the company’s total funding to over $40 million.
The new capital will accelerate Andium’s global expansion, including scaling operations across oil and gas basins in the U.S. and the Middle East. It will also reduce technology and equipment costs, support ongoing research and development, and enhance the range of services Andium offers in industrial automation and emissions monitoring.
Andium Secures $15 Million in Series A Funding Round Led by OGCI Climate Investments
Andium, Inc., an expert in Industrial Internet of Things (IIOT) remote-field monitoring and communications technologies, announced the close of a $15 million Series A investment round led by OGCI Climate Investments. Existing Andium investors Tom Miglis, former Chief Information Officer of Citadel, and Talis Capital, also participated in the round.
The new financing round will continue to drive product growth and innovation, support strategic investment in talent, and enable Andium to accelerate the deployment of its proprietary Video Solutions product lines for flare monitoring, tank telemetry, and object detection.
Using a revolutionary end-to-end Operating System, Andium’s monitoring products provide oil and gas companies with verifiable, real-time information from remote locations at a fraction of the cost of other solutions. Turning monitoring, especially of flares, into an automated, digital process is a game changer for emission reductions and the achievement of environmental, social and governance goals (ESG).