Cambridge-based data visualisation company GeoSpock provides data analytics, generates insights, and enables predictions across space and time that can be used in applications from smart cities to mobility. The startup has raised €11 million in additional funding, bringing the total raised to date to €21.5 million. Founded in 2013, GeoSpock initially raised $1.25 million when it joined TechStars’ 2014 winter programme.
The new investment round was led by existing backers Cambridge Innovation Capital, Parkwalk Advisors, and the Japanese firms Global Brain and 31Ventures, as well as KDDI Supership and Jonathan Milner.
GeoSpock seeks to establish itself as the de facto processing engine at the heart of next-generation smart infrastructure, such as smart cities and the Internet of Everything (IoE). The company powers future mobility applications, including the management of autonomous vehicle fleets, and already works with businesses across various sectors including automotive, telecoms, mobility, marine, media, and retail.
The additional funding will support GeoSpock’s rapid international expansion, with a particular focus on key markets in Singapore and Japan. The investment will also allow the data visualisation company to continue to invest in research and development, particularly in the areas of machine learning and data science.
Victor Christou, CEO of Cambridge Innovation Capital (CIC), commented: “We’re delighted to lead GeoSpock’s latest funding round, 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 visualisation for the everything-connected world. We also welcome KDDI to this investment, whose expertise 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.”