Cold Bore Technology Closes $14M Growth Financing Round
Deal Synopsis
In July 2021, Cold Bore Technology secured $14 million in growth financing led by bp ventures, with participation from the Canadian Business Growth Fund. The investment supported the continued expansion of Cold Bore’s SmartPAD platform, which centralizes and analyzes well-completion data to improve automation, operational efficiency, worker safety and emissions performance. As part of the strategic partnership, bp also planned to deploy SmartPAD across bpx energy’s U.S. onshore operations. For more details, read here.
Seller Details
Cold Bore Technology provides digital optimization solutions for oil and gas completion operations. Its SmartPAD platform consolidates real-time data from multiple on-site services into a standardized operating environment, helping producers coordinate activities, automate reporting and make faster operational decisions.
Investor Details
bp ventures is the corporate venture investment arm of bp. The group makes strategic investments in high-growth technology companies whose products and capabilities can support bp’s operations and broader energy strategy, particularly across digital, mobility and energy-related technologies.
The Canadian Business Growth Fund is an independent, evergreen investment fund that provides patient minority capital and strategic support to privately owned, mid-market Canadian businesses pursuing growth, expansion or ownership-transition initiatives.