AcousticEye Inc., a Houston, TX-based developer of non-traversing tube and pipe inspection solutions for the global NDT (non-destructive testing) market, received additional over $2m in funding.
Mr. Roman Abramovich, one of the world’s most prominent investors in the international oil & gas industry, made the investment.
The company intends to use the funds to accelerate product development, deployment and sales.
Led by Mr Yoav Harel, CEO, AcousticEye leverages patented dual mode pulse reflectometry technology (acoustic and ultrasonic operating in parallel) to provide the new DUET™ system for tubes and pipes, which targets NDT applications in oil and gas, power generation, petrochemical and other adjacent markets including chemical, pulp and paper, food and beverage and HVAC.
The solutions are utilized by inspection service providers and end users worldwide.
The company had raised more than $7m in December, 2013 (read here).