Geospatial Insight, a specialist in visual intelligence derived from geospatial big-data, has secured a GBP3.5 million growth equity investment from Foresight Williams Technology EIS Fund and VenturesOne Investments.
The financing will be used to expand Geospatial Insight’s machine learning capabilities as well as fast-tracking additional product streams and visual intelligence customer solutions.
The capital injection follows a Series A investment by VenturesOne, growth equity investors, completed in July 2017 and seed funding by Midven, the Birmingham based venture capital company, through the Exceed Partnership Fund in December 2014.
Using a combination of machine learning, big data analytics and remote sensing techniques, Geospatial Insight provides evidence-based insights for improved decision making in a range of sectors including financial, trading markets and insurance. This specialist skillset puts Geospatial Insight at the forefront of the explosion of geospatial data and machine learning development helping to deliver radically new insights into key events and trends around the world.
David Fox, CEO of Geospatial Insight, says: “We are delighted to receive investment through the Foresight Williams Technology EIS Fund and VenturesOne. During the next 12 months we will be strengthening our machine learning expertise and developing new customer propositions that better inform enterprise decision making. By doing so we will also further extend our leading position in delivering business intelligence and analysis derived from satellite, aerial and drone imagery.”
Bernard Fairman, Chairman, Foresight Group, says: “Geospatial Insight addresses global challenges and is a highly scalable business. The fund’s core mandate is to support high-quality, disruptive businesses with excellent management teams and Geospatial Insight represents a premier example.”
Rafael Aldon, director at VenturesOne and Non-Executive Director of Geospatial Insight, says: “The addition of Foresight Williams EIS Fund is of strategic significance and signals to corporates that visual intelligence can provide a competitive edge and Geospatial Insight are positioned at the forefront to deliver on that promise.”
