Tuesday, June 7, 2011

Liquid Robotics Collects $22M

Sunnyvale-based Liquid Robotics, a developer of a underwater robotic vehicle, said it has raised $22M in a Series D financing round. The round was led by VantagePoint Capital Partners, and also included oilfield services firm Schlumberger. The firm said the funding from VantagePoint is its first institutional investment. As part of the funding, Bill Vass, the former president and COO of Sun Microsystems Federal, has been appointed CEO. Liquid Robotics develops a "marine drone" which are used for data collection, surveillance, and reconnaissance. Those drones are used for marine research by the NOAA, Woods Hole Oceanographic Institute, The Monterey Bay Aquarium, as well as for oil and gas and national security. More information »