Expanding company moves to new base
A company, whose technology reduces harmful carbon dioxide emissions, has moved into a new...read more
Midlands-based company Geospatial Insights is the leading provider of evidence-based geospatial research to corporate businesses. With the use of intelligence collated from drones, satellite and aerial imagery, Geospatial Insights enables businesses to make better-informed decisions.
Geospatial Insights is at the cutting-edge of advancing technologies that allow collation and analysis of highly sophisticated data. This helps an array of companies, primarily those from the insurance, investment and trading markets sectors. With this intelligence they are better able to assess risk, develop investment evaluations, undertake major event impact assessments and monitor assets more efficiently. The services that Geospatial Insights provide has revolutionised the sectors it works with by leveraging the newest and most advanced methods in the field.
Geospatial Insights was established back in 2012; birthed by a team of Geospatial experts who noted a gap in the market for the delivery of such intelligence. Since then, the company has become one of the world’s leading providers of the service. All as a result of continued growth, persistent tech development and the recruitment of hugely knowledgeable technicians and sales professionals.
In 2017, Geospatial Insight’s network of drones enabled insurers to evaluate objects in the aftermath of Hurricane Harvey – a natural disaster that saw an estimated $75 billion in damages to homes and property across Texas, USA. The use of this technology helped accelerate the claims of thousands of people who lost their homes in the catastrophe.
Midven initially invested in Geospatial Insights back in 2014, through its Exceed Fund. This round of investment enabled the company to automate complex analytical techniques which secured further growth.
In 2018, Midven made a further investment from its MEIF as part of a wider £3.5million equity boost. This allowed Geospatial Insights to accelerate the aforementioned automation with the use of machine learning techniques. Most notably, the investment has enabled Geospatial Insights to develop Breathe Clean – a ground-breaking solution that uses the latest tech to monitor real-time levels of air pollution. A product that enables councils to develop solutions that help to limit environmental damage and create healthier communities.
Geospatial Insights promises a bright future, and will be supporting Energo during 2020. With its analysis and expertise, the company aims to support them in the delivery of 100,000 new homes in Oxfordshire by the year 2030, while limiting carbon emissions.
Tony Stott, Chief Executive of Midven, commented:
‘GBEIS is delighted to have backed the enthusiastic and experienced management team of Geospatial Insight in the launch of its exciting range of new products, which use satellite imagery to improve breathable air quality, reduce carbon emissions and track the effects of global warming. The company is operating in expanding areas of the market, and is making an environmental impact’.
Dave Fox, CEO & Co-Founder of Geospatial Insights, says:
“We are delighted to receive investment through GB EIS. Over the next 12 months, we will be strengthening our machine learning expertise and developing new customer propositions. By doing so we will also further extend our leading position in delivering business intelligence and analysis derived from satellite, aerial and drone imagery. Alongside this the investment will allow us to further develop our product range and we are excited about the opportunity to grow the scope and reach of PropertyView, our building risk assessment tool, into the insurance underwriting sector”.
Capital at Risk, please seek independent financial, tax and legal advice. This product is not suitable for Retail investors and is not available to such investors on a non-advised basis. Tax treatment is dependent on individual circumstances. Past performance and illustrative performance are not an indication or guarantee of future performance. Investment into non-readily realisable securities (unquoted) carry a high degree of risk, you could lose all or part of your original capital invested. Tax legislation is subject to change and is only current as at the time of publishing
Midven Limited is authorised and regulated by the Financial Conduct Authority (FRN 148549). Registered Office: Cavendish House, 39-41 Waterloo Street, Birmingham, B2 5PP. Company Number: 02500898