The reality is that fossil fuels will continue to be the dominant source of energy for years to come," said Geoff Lewis, a partner at Founders Fund who led the investment in RunTitle. "There have been very few innovations in production."
The San Francisco-based venture firm has also financed Tachyus, a company that sells tools to optimize oil production through data analysis; RigUp, a marketplace for oil-field services; and Modumetal, a materials company that sells to the industry. Founders Fund has also backed nuclear technology and clean energy companies.
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