23 February 2018
Cambridge Innovation Capital leads £5 million Series A funding in GeoSpock
Cambridge Innovation Capital plc (CIC), a Cambridge-based builder of technology and healthcare companies, 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.
“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.”
Victor ChristouCEO of Cambridge Innovation Capital
“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.”
Richard BakerCEO at GeoSpock
“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.”
Dr Steve MarshFounder and CTO of GeoSpock
For more information please contact:
Cambridge Innovation Capital
Victor Christou, Chief Executive Officer
Louise Rich, Head of Investor Relations and Communications
+44 (0)1223 764875
Consilium Strategic Communications (City, financial PR)
+44 (0)20 3709 5700
Holdsworth Associates (local and trade PR)
+44 (0)1954 202789
About Cambridge Innovation Capital plc
CIC combines a unique relationship with the University of Cambridge with deep financial and industry links to support rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies, with the benefit of some of the most influential figures in the sector and a patient capital structure.
For more information visit www.cicplc.co.uk or follow us on Twitter at @CambsInnovation
GeoSpock® provides a data integration platform, which visualises large amounts of contextual data in milliseconds. Its architecture has the ability to analyse trillions of geospatial and temporal data points in sub-second response time with its high performance, cloud-based services – infin8™, illumin8™, and extrapol8™. Conceived by Dr Steve Marsh while reading for his PhD in Computer Science at Cambridge University and founded as a business in 2013.
GeoSpock is the future of big data management, providing extreme-scale, high volume-ingest, ease of use, and interactive results. Learn more at www.geospock.com