Sourcewater, Inc., a Houston, TX-based provider of oilfield water intelligence solutions, raised $7.2m in Series A funding.
The round was led by Bison Technologies, Marubeni Corp and major energy family offices in Houston, Midland, Dallas, and Oklahoma City.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Joshua Adler, Founding Chief Executive, Sourcewater provides intelligence solutions that gather data from its online water marketplace, proprietary satellite imagery analytics, hundreds of government databases, market research, and IoT sensors to generate holistic, geospatial insights into oilfield water markets.
The company was founded from MIT’s Energy Ventures program in 2014.