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2014 April

10 Apr


Tachyus, a Data Start-Up for Oil Industry, Raises $6 Million

April 10, 2014 | By |

Since graduating from Stanford in 2011, Dakin Sloss has already co-founded two start-ups, including the government data analysis company OpenGov.

But several months ago, he and two friends began discussing what their next project should be. After research into a number of industries ripe for more sophisticated data analysis, they came up with a surprising one: oil and gas.

What the three founded has become Tachyus, which aims to create an array of sensors and mobile applications to help oil and gas producers better record and analyze their wells. The company plans to announce as soon as Thursday that it has raised $6 million from a group led by Founders Fund and includes Streamlined Ventures, Caffeinated Capital, Huron River Ventures, and Formation 8.

Read more on New York Times: Dealbook