Calgary-based visual monitoring solutions company Osprey Informatics has closed a $3.75 million funding round led by Shell Ventures and Evok Innovations, with participation from InterGen Capital and current shareholders.
Osprey had previously raised a $1.2 million Series A round in 2015, led by Anzu Partners, a Washington, DC-based investment firm.
“We are thrilled to partner with Shell Ventures, Evok Innovations and InterGen Capital,” said Rob Logan, CEO of Osprey Informatics. “This strategic investment provides not only capital, but also access to global energy leaders. We are now well positioned to grow our deployments throughout the Industrial IoT.”
The company’s SaaS platform, Osprey Reach, helps oil and gas companies manage remote cameras, analyzes images and video with artificial intelligence and input from other sensors and data systems, and deliver insights to users. Osprey says the platform is used by more than 30 North American energy companies.
“Osprey has the ability to bring measurable efficiencies and improvements to the oil and gas sector,” said Brian Felesky of InterGen Capital. “We are pleased to see such remarkable, industry-focused innovation happening here in Calgary.”
The company said the investment will be used to drive sales expansion and to bring to market additional artificial intelligence-enabled solutions, including methane detection.
