No matter how you feel about climate change, the oil industry is becoming more data-driven and efficient thanks to this startup.
Oil isn’t the most popular industry in the Bay Area, admits Dakin Sloss, co-founder and CEO of Tachyus, an 18-month-old Silicon Valley startup that builds data tools for the oil industry. But Sloss — a serial entrepreneur who graduated from Stanford in 2011 — says “if you care about energy, then you should care about oil and gas. There’s a big opportunity for more data-driven efficiency.”
The startup seems to have hit a nerve initially with oil well operators in the U.S. Sloss says that the company’s data models are being used at 6,000 oil wells domestically helping operators increase their oil production by an average of 20 to 30 percent and enabling Tachyus to grow its revenues around 20 percent week over week. Sloss declined to name the company’s oil operator customers.
Sloss tells Fortune that, following this growth, Tachyus has recently closed on a Series A round of $13 million in funding led by the Founders Fund, the venture capital firm created by former PayPal founders including Peter Thiel. Founders Fund has backed startups like SpaceX, Palantir, Airbnb, Facebook, Lyft, Spotify and Yammer. Read more on Fortune
Farm management software company FarmLogs is used by over 20% of the farms in the U.S. with over $15 billion in crops under management. Now FarmLogs has launched the only crop health monitoring service in the industry that can pinpoint the exact location in the part of the field that needs attention. If a problem is detected in the field that causes a risk of losing yield during the growing season, FarmLogs users will automatically receive actionable maps.
FarmLogs monitors crop health by utilizing multi-spectral satellite imagery to build performance baselines from over five years of field-specific crop health data. The crop health is tracked throughout the season against the performance baseline to detect subtle cues and stress signals that is otherwise invisible to the human eye. The crop health monitoring imagery utilized by FarmLogs shows information that is actionable and eliminates guesswork so that farmers can fix problems before yield is reduced. Read more on Forbes
PeachWorks announced today the integration of its Whisk and POS Hub apps with market leading NCR’s Aloha and Oracle’s Micros POS systems.
PeachWorks, formerly WhenToManage, the leading restaurant cloud platform for quick-service and fast-casual chains, full-service, hospitality, and specialty retail and food service operations, announced today from the National Restaurant Association Show 2015 the integration of its Whisk and POS Hub apps with market leading NCR’s Aloha and Oracle’s Micros POS systems.
POS Hub creates a 2-way connection between one or more POS systems and the restaurant’s back-of-house solutions. The app gives users an easy way to standardize menu item names and connect sales data to recipes to capture ideal inventory usage. POS Hub gives restaurants the power to integrate with major POS systems, especially market leaders Aloha and Micros, and can pull data from a variety of other sources. Read more on PRWeb
Sidecar is aiming for a new high — literally. The ride-hailing app, which like Uber and Lyft connects a fleet of on-demand drivers with passengers via smartphone, announced Tuesday that it has formally launched a service to deliver medical marijuana to customers’ doorsteps in San Francisco, following a small pilot that began last week.
And it’s not going to make anyone wait too long either: Sidecar is pledging that marijuana deliveries will arrive within an hour of an order being placed with local dispensaries. Deliveries will be limited to one ounce per customer, but drivers might be shuttling around as many as four orders — or four ounces — at a time. The company says that medicine will be kept in a “safe, lock box during transit.”
Ambiq Micro, Austin TX, provider of ultra-low power integrated circuits for power-sensitive applications, has signed a global distribution agreement with Montreal-based electronics distributor, Future Electronics.
Future will market Ambiq’s real-time clocks (RTCs) and the Apollo family of ARM Cortex microcontrollers (MCUs). The low power devices are based on Ambiq’s patented Subthreshold Power Optimized Technology (SPOT) platform. This technology enables the ability to operate transistors at voltage levels that are far below what is considered ‘standard’ by semiconductor industry standards. Read more on EP&T
HRV announced our $5 million Opportunity Fund this week. The Opportunity Fund will invest in later-stage funding rounds for HRV I portfolio companies companies. Read more by Tom Henderson on crainsdetroit.com.
Finding a decent apartment can be tough, which is why we’ve seen a recent increase in the number of startups that are aiming to serve a woefully underserved market. But finding an apartment when you’re a college student can be even tougher. Aimed squarely at the university market, a Y Combinator-backed startup called Cribspot hopes to alleviate at least some of the pain associated with finding rentals and sublets.
Michigan has a new 35-employee technology company called PeachWorks, which has moved to Southfield from Connecticut after raising $4 million in growth capital and adding a new CEO.
The company, formerly known as WhenToManage, provides cloud-based software for the restaurant industry, to help schedule staffing, manage inventory, order supplies and help with analytics of point-of-sale data.
Mark Symonds, former CEO of Troy-based Plex Systems, recently joined PeachWorks as its CEO after serving as a consultant to the firm for about a year.