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Foresight invests GBP3.9m in sub-sea survey specialist Rovco

Foresight Group (Foresight), an independent infrastructure and private equity investment manager, is to make a GBP3.9 million investment into disruptive subsea surveying company Rovco.The investment comprises GBP2.0 million from the Foresight Williams Technology EIS Fund and GBP1.9 million from Foresight VCTs. The investment was part of a larger round totalling GBP5 million which included funds from existing shareholders.

Established in 2015, Rovco is changing the way underwater work is performed and pushing the boundaries of subsea technology. Investing heavily in the development of an artificial intelligence driven data platform and live 3D vision systems for subsea robotics. The Company has the resources and expertise to deliver challenging projects across the globe delivering the highest quality data.

The Company has developed its SubSLAM technology to improve the data collection of underwater vehicles undertaking the difficult task of subsea infrastructure inspection, aiming ultimately to make the piloting of such vehicles fully autonomous. More efficient survey processes for offshore infrastructure inspections offer huge potential for reducing the size of crews and time needed on vessels out at sea. The innovation represents a more cost-effective, environmentally friendly, time-efficient and safer future for the industry.

Rovco has already received a strong reception from companies operating in the areas of offshore wind and oil and gas, and the technology has the scope for application far beyond subsea and offshore operations.
 

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