What is Data Gumbo?
Founded in 2016, Data Gumbo operates GumboNet, a blockchain-secured, interconnected industrial smart contract network. This platform is designed to automate and execute smart contracts, thereby reducing contract leakage, optimizing working capital, and enabling real-time financial management. GumboNet provides enhanced speed, accuracy, visibility, and transparency in contract execution and provenance. The company maintains offices in Houston, Stavanger, Norway, and London, UK.
How much funding has Data Gumbo raised?
Data Gumbo has raised a total of $18.1M across 4 funding rounds:
Series A
$6M
Debt
$350K
Series B
$7.7M
Series C
$4M
Series A (2019): $6M, investors not publicly disclosed
Debt (2020): $350K led by PPP
Series B (2020): $7.7M supported by Equinor, L37 Partners, and Saudi Aramco Energy Ventures
Series C (2022): $4M featuring Saudi Aramco Energy Ventures and Equinor
Key Investors in Data Gumbo
Saudi Aramco Energy Ventures
Saudi Aramco Energy Ventures (SAEV) is the corporate venturing program of Aramco Ventures, a subsidiary of Aramco the world's leading integrated energy and chemicals company. Its mission is to invest globally into start-up and high growth companies with technologies of strategic importance to Aramco.
Equinor
Headquartered in Stavanger, Norway, Equinor ASA is a Norwegian oil and gas company with international operations. The company explores for and produces crude oil, operates natural gas pipelines, supplies electricity, and is engaged in green energy development.
L37 Partners
L37 Partners is an investment firm that provides capital and strategic support to companies. Their involvement suggests a focus on growth-stage companies with strong market potential.
What's next for Data Gumbo?
The substantial enterprise-level funding Data Gumbo has attracted, particularly its recent strategic investment, positions it for accelerated growth and market expansion. This financial backing is expected to fuel further development of its GumboNet platform and enhance its capabilities in automating complex industrial smart contracts. The company's focus on blockchain technology for real-time execution and financial management suggests a strategic push to capture a larger share of the enterprise solutions market, particularly within the energy and industrial sectors.
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