ARKeX raises $30 million

ARKeX has raised $30 million in a deal that marks the largest venture round for a UK service company supplying the onshore and offshore oil and gas E&P sector since 2003.

Offshore staff

CAMBRIDGE, UK -- ARKeX has raised $30 million in a deal that marks the largest venture round for a UK service company supplying the onshore and offshore oil and gas E&P sector since 2003.

The investment was led by Ferd Venture and included existing investors Energy Ventures, Scottish Equity Partners, and members of ARKeX senior management. This is the third round of funding raised by ARKeX since 2004.

The company will use the funds to expand the operational capabilities of its airborne BlueQube gravity gradiometry imaging service and to accelerate production of its proprietary technology, the Exploration Gravity Gradiometer.

06/30/2008

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