|By Business Wire||
|October 8, 2012 05:08 PM EDT||
GroundMetrics, Inc., a San Diego based, high technology start-up, announced that it has been selected as a featured presenter at the WBT Innovation Marketplace, the nation’s premier event showcasing selected new technologies with large market potential. Presenters for the event are selected from a pool of applicants in a screening process conducted by a national panel of seed investors, venture capitalists, and corporate licensing executives.
The WBT Marketplace selection committee looks for organizations that have demonstrated the market viability of their solutions by obtaining financial support from angel financing or government grants. GroundMetrics is a perfect fit for this event, as it has both raised $1.2 million in Series A financing through the Tech Coast Angels (TCA), the largest angel investment organization in the United States, and has also received a research grant from the Department of Energy to apply its transformative subsurface sensing technology to new reservoir monitoring applications.
“We are pleased to include GroundMetrics in this choice group of emerging companies and technologies to our exclusive forum of institutional investors, angel investors, and corporate licensees,” said Paul Huleatt, the CEO of WBT Innovation Marketplace. “We hope they will join the WBT alumni that have received over $786 million in early and seed stage funding and licensing. One in three WBT presenters goes on to license, secure venture funding or sell their IP outright.”
The purpose of the Marketplace is to facilitate interactions among the venture capital community, corporate licensees, angel investors, state seed managers, and presenters from top universities, labs, research institutions, and the private sector to nurture productive financial and strategic alliances. GroundMetrics is preparing to move into the next stage of its development, offering investors the opportunity to participate in a Series A2 round of financing to generate case studies for sales and marketing and reach cash flow positive. GroundMetrics also seeks strategic alliances for joint survey sales to oil producers operating mature fields in the United States to map bypassed hydrocarbons.
GroundMetrics (www.GroundMetrics.Com) was founded in 2010 to commercialize a new class of sensing technology for geophysical applications and to provide advanced survey and monitoring services directly to energy, mining, geothermal, and environmental companies. Our sensor systems can provide high quality data while operating in challenging environments in which traditional technology does not function. In addition, our innovative approach allows us to conduct surveys in less time and at lower cost to customers.
About the WBT Innovation Marketplace
The 2012 World’s Best Technologies (WBT) Innovation Marketplace will be held at the San Diego Convention Center, October 24-26. GroundMetrics will have a booth and give a presentation, in addition to welcoming guests for an unofficial follow-up presentation and extended conversation/Q&A.