Geospatial Insight, a firm that packages satellite data to be used by investors, is seeking extra funding in an expansion bid.
Venture capital firm VenturesOne, which has a presence in The Netherlands and Asia, is leading the financing push.
Funds Europe interviewed Dan Schnurr, chief technology officer of the UK-based Geospatial, back in 2014.
The firm uses a combination of machine learning, big data analytics and “visual intelligence” technology to deliver investor insights.
Visual intelligence includes using satellites for insight into a national economy or a company’s share price by monitoring the volume of delivery lorries leaving the depots of a company such as Amazon. It can also include night-time satellite imagery used to check if an emerging market country’s economy is as vibrant as its official data suggests.
David Fox, chief executive of Geospatial Insight, said the firm’s offering could also empower governments and policy makers with data about “some of mankind’s most pressing global issues”, such as the prediction of crop yields to combat food shortages in the developing world, and tracking industrial and agricultural greenhouse gas emissions.
Read our interview with Geospatial here.
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