Japanese investors Global Brain and 31Ventures along with data tech company KDDI Supership have chipped into a fresh £10 million funding round for Cambridge UK extreme data specialist GeoSpock.
It takes the total raised by GeoSpock to date to £19.5m – just under $25m – and is designed to fast-track transformational GeoSpock engagement with the massive Asian markets of Japan and Singapore.
GeoSpock’s unique spatial big data platform enables companies to access dynamic contextual data visualisation and programmatic analytics.
The latest investment was led by existing backers Cambridge Innovation Capital 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 serial Cambridge life science entrepreneur.
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 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.
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 said: “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.”
from Business Weekly http://bit.ly/2C74zBJ