Qi2
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has received a growth equity investment from
Overview
- Quest Integrated, LLC (“Qi2”) designs and develops advanced robotic sensor systems to inspect, assess and monitor the condition of critical energy infrastructure
- The company’s robotic sensor solutions provide for best in class non-destructive testing (“NDT”) services that allow for improved safety, coverage, accuracy, reliability and efficiency of inspection for oil & gas operators to significantly decrease costs
Situation
- Qi2 was historically an engineering development company, which patented technologies across various industries and sought to exit companies that commercialized
- The company had recently built strong traction in NDT technology in the oilfield and was seeking to transition from an engineering development company to a tech-enabled oilfield services provider
- Qi2 engaged Cascadia to identify interested partners
Our Specialized Approach
- Cascadia acted as a financial advisor to Qi2 and reached out to a number of interested parties and identified several groups that shared similar strategies in NDT for the oilfield
- The advisory team positioned Qi2’s technology as the platform with greatest potential of disrupting NDT technologies operating in the oilfield today, and drew on the management team’s prior success at developing the technologies used in the industry to date
- After a competitive process, a leading energy technology growth capital firm invested substantial capital into Qi2