Sequoia Makes Bet on AcousticEye

http://www.acousticeye.com/en-us/news-event/news-item.asp?ContentID=16

7/6/2010 Menlo Park, Calif. -- Sequoia Capital has made international investment in ACOUSTICEYE, which makes inspection technology.

Sequoia named ACOUSTICEYE in an online press release as a new investment, but didn't disclose the investment amount. Mark Dempster, the marketing partner at Sequoia Capital, said the firm wouldn't comment on the investment. The company didn't return a request for comment.

Leusden, Netherlands-based ACOUSTICEYE makes a technology that enables inspectors to look at all of the tubes in heat-exchanger systems that are used in the oil and gas, chemical, and power-generation markets.

Normally, inspectors rely on sampling these tubes, but ACOUSTICEYE says that sampling can fail to detect problems in the 15 to 20 million heat-exchanger installations worldwide.

Using acoustic waves, ACOUSTICEYE's technology allows each tube to be tested in less than nine seconds.

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