GroundMetrics Gets $1.5M In Second Round

San Dieog-based GroundMetrics, which develops electromagnetic sensing technology for the oil, gas, mining, geothermal, and environmental market, said late Monday that it has raised $1.5M in a second round of financing. The new round was led by the Tech Coast Angels, and also included the Rady Venture Fund, La Costa Investment Group, Crescent Ridge Partners Ventures, and Rancho Santa Fe Partners. The firm also said it also included financing from investors in Cyprus, Dubai, Great Britain, and India. GroundMetrics develops electromagnetic sensing technology used for enhanced oil recovery and other efforts. The company's CEO is George Eiskamp. More information »