Verdande Receives NOK19.7M Investment

Verdande Technology AS, a Trondheim, Norway-based provider of software for the oil and gas industry, has received a NOK 19.7m investment from Investinor.
The company has developed a software platform based on a technology called case-based reasoning, which make it available large amounts of historical data for predicting adverse events before they occur, make corrections and preventing these events.
Verdande’s flagship product, DrillEdge, aims to assist drilling engineers in lowering risk, increasing rate of penetration and reducing non-productive time during the operations.
Created in 2004, the company is privately funded by StatoilHydro Venture AS, Proventure Seed AS, founders and employees.

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