Motive Drilling Raises $10.5M

Dallas-based Motive Drilling Technologies, a developer of algorithm-driven, drilling technology, said today that it has spun out of Hunt Energy, and raised $10.5M in a Series A funding. The funding came from Formation 8 and GE Ventures. Motive Drilling, which is being led by Todd Benson, develops drill bit guidance systems which uses algorithms, data analytics, real time production information, and more to improve horizontal well drilling for the energy industry. More information »