Expanding company moves to new base
A company, whose technology reduces harmful carbon dioxide emissions, has moved into a new...read more
Geospatial Insight is a leading provider of independent research derived from the analysis of satellite, aerial and drone imagery.
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.
The company sources data from several partner suppliers, including satellite imagery and aerial imagery, and once acquired expertly interpret it. This interpretation can help clients better understand risk and manage it accordingly, can help support investment decisions, monitor and map assets, measure competitor performance and market share, as well as providing the rapid delivery of data following a major catastrophe event such as flooding.
Recently the firm worked in the aftermath of Hurricane Harvey – a catastrophe that saw 27 trillion gallons of rainwater fall on Houston and southeast Texas, causing an estimated $75 billion in damages to properties. With 50 inches of stagnant water leaving roads impassable and usual means of assessment redundant, the live footage broadcast from Geospatial Insight’s drone network meant insurers were able to evaluate objects as small as 1cm, expediting claims and reimbursing thousands displaced from their homes.
Midven’s Exceed fund and the MEIF Investment has unlocked funding which will accelerate Geospatial’s growth in the rapidly expanding visual intelligence sector. Geospatial’s use of machine learning techniques has significantly increased the volume of data that can be analysed and packaged into truly scalable actionable intelligence products.
The recruitment of additional technical expertise will allow the company to take on several projects at once and move efficiency on to new levels. A number of new business opportunities have been clearly identified and they are ideally placed, with this investment, to exploit these.
We are delighted to receive investment through Midlands Engine Investment Fund. Over 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.”
David Fox, CEO of Geospatial Insight
Dave has a long background in the geospatial sector, acting as CEO of Infoterra UK from 1998 to 2010. With a profound understanding of the geo-information services industry, Dave grew the business fivefold in that period, also participating on the executive board of the wider SPOT-Infoterra Group for ten years. Dave then became Managing Director of Blom Aerofilms and VP of Operations of the wider Blom Group. Dave founded Geospatial Insight in 2012, providing differentiated intelligence products for major clients in the insurance, capital trading and energy sectors. He is responsible for overall strategy and leading corporate and insurance sector client relations