According to Business Wire, GroundMetrics Inc (a company based in San Diego which offers a new class of electromagnetic sensing technologies) raised its second round of financing. It was led by the Tech Coast Angels but Southern California syndicates such as Rady Venture Fund, La Costa Investment Group and Rancho Santa Fe Partners participate . Moreover, it is important to highlight that this second round of investing also attracted international investors coming from India, Cyprus, Dubai and Great Britain.
This second round of investing aimed at enabling GroundMetrics to complete product engineering and initiate commercialization. According to Goerge Eiskampp, GroundMetrics CEO, the company’s customers are the world’s largest oil and mining companies.