Global Surface Intelligence -GSI- has closed a substantial funding round, enabling the company to respond to strong commercial appetite for its unique data refinery services. GSI is one of only a few companies in the world that is efficiently transforming drone and satellite data into valuable business intelligence for customers. Put simply, GSI can continuously measure land use, forests and crops and detect changes, such as growth, disease and harvest, across large geographic areas.
Par Equity led the investment round, with support from the Scottish Investment Bank, to secure over £800,000 of new equity investment.
GSI’s CEO Gavin Tweedie commented
“GSI has secured this investment to capitalise on the traction we’ve built among business partners and end customers in a range of vertical markets including energy, insurance and assurance. "
"We will use the funding to create a number of exciting new roles for highly skilled individuals to help deliver and integrate solutions for our clients.”
Paul Atkinson, Partner at Par Equity noted “Par Equity works hard to add value to its portfolio companies, providing access to contacts and opening doors to new opportunities.
"As such, we were delighted to support GSI again as it scales up successfully to deliver innovative products and services using its proprietary high performance AI technology."
"The company attracted significant support from existing shareholders and Par Syndicate members who are new to the company.”
Kerry Sharp, Head of the Scottish Investment Bank added;
“We’ve supported Global Surface Intelligence from an early stage and it’s great to see the company grow and progress."
"Scotland is well placed to secure its position as the data innovation capital of Europe within the next few years. There are around 150 data innovation and exploitation companies in Scotland with a combined turnover of £1 billion, as well as our world-class academic excellence, a collaborative culture to breed further innovation and a growing number of investors choosing Scotland as a location for their data-driven businesses.”
For any enquiries, please contact:
· For GSI - Gavin Tweedie, CEO, info@surfaceintelligence.com
· For Par Equity – Graeme Mckinstry, +44 (0)131 556 0044
· For Scottish Investment Bank - Kerry Sharp, www.scottish-enterprise.com
Global Surface Intelligence -GSI- is a Scottish based geospatial analytics company providing A.I. powered analysis of satellite data to owners of natural resources and infrastructure to make better decisions in buying, selling and managing their assets by establishing their current value.
GSI has developed and patented unique methods in the application of AI to space data, which move beyond simple object classification to high value measurement of change.
Applications include forest inventory, pest and disease tracking, crop yield, traceability for the food supply chain, deforestation, insurance claim management and defect detection in man-made structures.
Par Equity is a venture capital firm with a hands-on, high impact investment style. It seeks out opportunities to invest in innovative young companies with strong growth potential and works closely with them to help them succeed. Its primary interest is in companies that are innovative and which gain competitive advantage by doing things in new and better ways.
Where possible, Par Equity uses government-approved tax wrappers such as EIS to maximise returns to investors and mitigate the risks of early stage investment. The company has been built by investors, for investors.
The Scottish Investment Bank (SIB) is the investment arm of Scotland’s main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of co- investment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF), and the Renewable Energy Investment Fund on behalf of the Scottish Government. SIB provides a team of Financial Readiness specialists to help companies prepare for new investment and access appropriate finance. SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and