Cambridge-Based GeoSpock Secures £10 Million Additional Funding
CAMBRIDGE, U.K., 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.”