AdBm Technologies, an Austin, TX-based underwater noise abatement technology company, raised $1.3m in Series A funding.
The round was led by the Central Texas Angel Network (CTAN) with participation from Green Park & Golf Ventures as well as the Houston Angel Network (HAN) and the North Texas Angel Network (NTAN).
The company intends to use the funds to perform further offshore demonstrations of the technology, scale up production capabilities, and manufacture the first commercial-scale systems.
Led by Dr. Mark Wochner, PhD, CEO, AdBm Technologies has developed an underwater noise abatement system which enables businesses to meet underwater noise regulations, especially in offshore wind, energy and marine construction projects.
The company, a portfolio company of Austin Technology Incubator’s (ATI) Clean Energy Incubator, currently has a pipeline of over 30 sales projects worth over $55m.
FinSMEs
03/10/2014