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PanGeo Subsea Raises $11 Million Venture Capital Round

Wednesday, August 05, 2009 5:51:00 AM PDT | VentureDeal Staff

Newfoundland, Canada  --  Acoustic technology company PanGeo Subsea has garnered $11 million in a new round of venture capital financing.

PanGeo is developing 3-D and 4D acoustic technology to assist the oil and gas industry in its exploration efforts.

Investors in the round included Chevron Technology Ventures , Lime Rock Partners and other undisclosed investors.  The company said it would use the funding proceeds to extend its service offerings and accelerate its expansion.

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