Tuesday, January 18, 2011

Kleiner Perkins, Bill Gates Fund Oil Exploration Tech

Kleiner Perkins Caufield & Byers has joined Microsoft's Bill Gates, Energy Capital Group, Goldman Sachs, and Passport Capital in funding a Texas firm in developing technology for the oil and gas exploration technology market, to the tune of $60M. According to Texas-based NEOS GeoSolutions, it has received $60M in funding from Energy Capital Group and Bill Gates, along with existing investors Goldman Sachs, Kleiner Perkins Caufield & Byers, and Passport Capital. NEOS develops technology which helps oil and gas firms determine where to explore, lease, and drill. More information »