Cambridge Innovation Capital plc (CIC) has led a £5 million Series A funding round in GeoSpock. Japanese strategic investors Global Brain and 31 Ventures also invested in this round, alongside other existing investors.
GeoSpock aims to become the de facto processing engine at the heart of next-generation infrastructure, including smart cities and internet of everything (IoE), as well as powering future mobility applications, including the management of autonomous vehicle fleets.
The company’s revolutionary data engine analyses extreme amounts of contextual data in sub-second response times. It has the capability to significantly improve artificial intelligence (AI) speed, enabling the use of extreme data to train new systems, and can integrate and correlate information from a wide variety of data sources at a moment’s notice. The platform is used by customers in the mobility, smart city, ad tech, financial services, telematics, and telco sectors, who benefit from interactive analytics at scale.
Victor Christou, CEO of Cambridge Innovation Capital (CIC), said: “GeoSpock’s products allow companies to assess and predict geographical demand rapidly to improve management and allocation of resources. The opportunity presented by the analysis of geospatial data is huge and GeoSpock is at the forefront of this innovation, helping companies use these insights to simplify the complexity of data and make better commercial decisions as a result.
“We welcome Global Brain and 31 Ventures, bringing their expertise to help GeoSpock develop within the Asian market.”
Richard Baker, CEO at GeoSpock commented: “The investment underpins GeoSpock’s significant growth projections, with a focus on developing and growing its commercial and engineering teams in the UK, Europe, Japan, and the US. We are privileged to have such a strong portfolio of investors with us on this stage of the journey.”
Dr Steve Marsh, Founder and CTO of GeoSpock, added: “It’s no longer enough to talk about big data; businesses are dealing with petabyte-scales of information and are seeking ways to extract meaningful answers from their data assets, which has to date been a costly and time-consuming process. GeoSpock’s architecture simplifies this process by improving speed and accuracy of analysis to drive high-quality actionable insights - unlocking the potential of extreme data across a wide variety of industry sectors. The completion of this funding round enables GeoSpock to continue its rapid growth and provide mission-critical solutions to help power smart infrastructure and future mobility services.”