Statoil Technology Invest (STI), the corporate venturing unit of the eponymous Norway-based oil major, has increased its ownership in local server infrastructure firm Numascale to 17.5%.
STI said the investment, which happened in January, followed “successful testing of Numascale’s [NumaConnect] technology through the Loop program” as it had applications with extremely large data memory requirements.
In July last year, Numascale said STI joined venture capital firms ProVenture and Investinor in the first NOK 21m ($3.6m) tranche of an equity round.