Quaise is developing and commercializing a hybrid deep drilling method that was invented at the MIT Plasma Science and Fusion Center. Its breakthrough technology uses a gyrotron to generate millimetric electromagnetic waves for drilling at depths beyond what can be accomplished today with conventional drilling. The company is working toward accessing depths of 10-20 km, which would dramatically open the opportunity for this clean, carbon-free and power-dense energy source.
| Date | Amount | Type | Investors | Valuation |
|---|---|---|---|---|
| 06/08/20 | $6,000,000 | Seed |
Collaborative Fund The Engine  | undisclosed |
| 08/03/21 | $12,000,000 | Venture |
Nabors Industries | undisclosed |
| 02/08/22 | $40,000,000 | Series A |
Collaborative Fund Fine Structure Ventures Nabors Energy Transition Ventures Prelude Ventures Safar Partners The Engine | undisclosed |
| 06/08/22 | $12,000,000 | Series A Extension |
Hostplus Prelude Ventures Safar Partners TechEnergy Ventures Xplorer Capital | undisclosed |
| 03/12/24 | $21,000,000 | Series A-1 |
Mitsubishi Corporation Prelude Ventures Safar Partners Standard Investments | undisclosed |
