I’m an advisor and invested in the venture. They are raising $500k in capital, 3 engineer founders in their mid 50s with sales, ops and patent experience. Minimum check size of 25k. They’ve raised 1.4m. $10M valuation pre revenue. Need rest of funds for commercialization, 5 patent pending tech in dredging and pipeline detection space. Having hard time identifying and outreaching folks. Thoughts?
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Never seen Oil and Gas + Technology start-up in the same sentence. There is a first for everything I guess.
Yeah it’s a first for me as well - super sleepy space but found their very specific problem solving in the sector attractive. Because it’s unique and most VCs don’t like investing outside their “thesis” the outside f&f raise has been a challenge.
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