Earth Science Analytics to raise NOK 75 million series B round funded by Equinor Ventures, Wintershall Dea Technology Ventures and Sumitomo Corporation

Earth Science Analytics, a Stavanger, Norway-based petroleum geoscience software provider, announced that it secured a NOK 75M ($8.6M) capital raise as a series B investemnt round.

The funding was provided by international investors and from Norway, including Equinor Ventures, the corporate venture fund of Equinor, a broad energy company and the leading operator in Norway, Wintershall Dea Technology Ventures, the corporate venture subsidiary of Wintershall Dea, Europe’s leading independent gas and oil company and Sumitomo Corporation, one of the world’s largest general trading companies.

The three new investors are joining Saudi Aramco Energy Ventures, which first invested in the company in 2019.

Money will be used for hiring more developers and expanding the business.

Earth Science Analytics, founded in 2016 in Bergen by Eirik Larsen, Behzad Alaei, Dimitrios Oikonomou and Christopher Jackson, aims to improve exploration and production success for clients by providing geoscience-driven data-analytics software, database solutions and data-driven workflows for better understanding of subsurface uncertainty. The company's product, EarthNET, is a cloud-native application that allows faster, cheaper and more accurate prediction of rock and fluid properties in the subsurface.