Houston Mechatronics Inc. (HMI), has announced a Series B investment of $20 million from Transocean and existing investor Schlumberger, which led HMI’s Series A investment in 2015.
Much of the new funding will be directed towards the commercialization of HMI’s first product, Aquanaut, a sub-sea service robot that can perform complex tasks over low bandwidth networks, eliminating the need for surface ships.
Beyond Aquanaut, HMI intends to continue developing novel sub-sea capability and other robotic technology for use in oil and gas applications with an objective to increase reliability, efficiency, capability, and safety.
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