Cambridge-Based GeoSpock Secures £10 Million Additional Funding
CAMBRIDGE, England--(BUSINESS WIRE)--Jan 8, 2019--GeoSpock® – the extreme-scale spatial big data integration company that provides analytics, builds insight, and enables predictions across space and time – today announced it has raised £10 million in additional funding, bringing the total raised to date to £19.25 million.
Investment was led by existing backers Cambridge Innovation Capital (CIC) jointly with Parkwalk Advisors and Japanese firms Global Brain and 31Ventures. Japanese data tech company KDDI Supership joined as a strategic investor. Investment was also secured from existing investor, Jonathan Milner.
The additional funding will support GeoSpock’s rapid international expansion strategy to help develop key client accounts, particularly in the strategic markets of Singapore and Japan. The investment will also allow the spatial big data company to continue to invest in research and development, particularly in the areas of machine learning and data science.
GeoSpock is fast establishing itself as the de facto processing engine at the heart of next-generation smart infrastructure – including smart cities and the Internet of Everything (IoE). The company powers future mobility applications, including the management of autonomous vehicle fleets, working with businesses across the automotive, telecoms, mobility, marine, media, and retail sectors.
Victor Christou, CEO of Cambridge Innovation Capital (CIC), commented: “We’re delighted to lead GeoSpock’s latest funding drive, enabling this exciting company to innovate and scale globally. The opportunity presented by geospatial data is huge and this funding will support GeoSpock in delivering geo-temporal data understanding and visualisation for the everything-connected world. We also welcome KDDI Supership to this investment, whose expertise, particularly in Asia, will help GeoSpock widen and deepen its global reach.”
Richard Baker, CEO at GeoSpock, commented: “ This additional strategic support from our investors will help GeoSpock to meet the needs of its fast-growing portfolio of international clients, allowing the business to focus on developing and growing the global commercial and engineering teams. We look forward to a very exciting 2019 that already promises to see GeoSpock make significant progress within mobility, telco, and IoT, as well as smart city and port initiatives.”
Note to editors: This additional funding forms part of GeoSpock’s Series A+ funding round.
GeoSpock® provides analytics , builds insight , and enables predictions across space and time. Its proprietary spatial big data platform visualises extreme amounts of contextual data in milliseconds. Its architecture has the ability to analyse trillions of geospatial and temporal data points in sub-second response time with its high performance, cloud-based services – infin8™, illumin8™, and extrapol8™. Conceived by Dr Steve Marsh while reading for his PhD in Computer Science at Cambridge University and founded as a business in 2013, GeoSpock is the future of big data management, providing extreme-scale, high volume-ingest, ease of use, and interactive results. Learn more at www.geospock.com or on Twitter @GeoSpock
About Cambridge Innovation Capital
Cambridge Innovation Capital combines a unique relationship with the University of Cambridge with deep financial and industry links to support rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies, with the benefit of some of the most influential figures in the sector and a patient capital structure.
For more information visit www.cicplc.co.uk or follow us on Twitter at @CambsInnovation
Parkwalk invests in high growth, knowledge intensive companies seeking to develop and commercialise technology and innovation originating from UK universities, research intensive institutions and technology clusters. Founded in 2009, Parkwalk is the largest EIS growth fund manager focused on university spin-outs, having raised over £180m to date and backed over 80 companies across its managed funds since inception.
www.parkwalkadvisors.com or @ParkwalkAdvisor
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PUB: 01/08/2019 03:00 AM/DISC: 01/08/2019 03:01 AM