US-based big data analytics developer Maana secured $28m on Tuesday in a series C round featuring corporates Intel, General Electric, Accenture, Chevron, Royal Dutch Shell and Saudi Aramco.
The round was co-led by investment banking firm China International Capital Corporation (CICC) and investment group Eight Square Capital, and included private equity firm Sino Capital.
Oil and gas suppliers Chevron, Royal Dutch Shell and Saudi Aramco provided funding through respective strategic investment subsidiaries Chevron Technology Ventures, Saudi Aramco Energy Ventures and Shell Technology Ventures.
Semiconductor maker Intel and industrial product group General Electric took part through their Intel Capital and GE Ventures units, while professional services firm Accenture invested through its corporate venturing arm, Accenture Ventures.
Maana has built an advanced analytics platform that collates data for businesses on their internal operations and processes. It claims the information is organised more dynamically than in other analytics services.
The company has now raised $68m in total. Saudi Aramco led its $26m series B round in May 2016, investing together with Saudi Aramco Energy Ventures, Shell Technology Ventures, Chevron Technology Ventures, GE Ventures, Intel Capital and venture capital firm Frost Data Capital.
Chevron Technology Ventures, GE Ventures, Intel Capital and Frost Data were among the investors that had provided $14m of funding for Maana when it emerged from stealth in 2015, along with petroleum producer ConocoPhillips’s corporate venturing arm, ConocoPhillips Technology Ventures.
Babur Ozden, co-founder and CEO of Maana, said: “The latest investment will be used to scale our business globally and support our growing Fortune Global 500 customer base.
“This funding combined with the strategic alliance Maana has established with Accenture, demonstrates the demand for Maana’s cutting-edge AI-driven knowledge technology as a key enabler of digital transformation at the world’s largest industrial companies.”