Non-invasive heat exchanger tube inspection company AcousticEye Inc. has raised $6 million in its second financing round from Israel Cleantech Ventures Funds and Sequoia Capital. The company will use the proceeds for R&D and global commercialization of its solutions.
AcousticEye
has developed Acoustic Pulse Reflectometry (APR) technology for
non-destructive testing of heat exchangers and boilers tubes. The
company's Dolphin G3 system can inspect boilers, fin fans, and other
heat exchangers regardless of tube shape or material. In March, the
company said that it had sold more than 50 of its systems. Founded in
2005, it is headquartered in The Netherlands, has a development center
in Israel, and offices across the US and Europe.
AcousticEye CEO
Yoav Harel said, “Our system has been utilized in many of the
industry’s most challenging jobs, inspecting hundreds of thousands of
tubes with accurate results and speed that are impossible using today’s
conventional techniques. With our technology approach now validated in
the industry, we are intently focused on achieving next stage growth
that will firmly establish AcousticEye as a game-changing solution
provider."
ICV venture associate Matan Friedman said,
"AcousticEye has introduced a disruptive technology for tube inspection
that delivers major advantages for users to significantly reduce
operational costs and contribute directly to improved profitability."
Sequoia
general partner Gili Raanan added, “We back companies that are
transforming their industries. AcousticEye… is well placed to make tube
inspection more efficient and affordable for many more companies around
the world."
http://www.globes.co.il/serveen/globes/docview.asp?did=1000751636&fid=1725
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