Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Data Science Startup GeoSpock Raises £4.8M in Series A

Cambridge-based company GeoSpock , a startup providing data analysis, insights, and predictions, has raised £4.8 million ($6.6 million) in a Series A round led by Cambridge Innovation Capital,  and also backed by Parkwalk advisors, Sir Micheal Marshall, Global Brain and 31 Ventures.

So far, the company has raised about £10 million.

Founded in 2013, the platform caters to customers in the  mobility, smart city, advertising,  finance, telematics and telecommunications sectors.

Geospock’s data engine can  analyse vasts amounts of contextual data in just under a second— and has the ability to improve Artificial Intelligence by allowing it to use data to create new systems.

Company founder and CTO Steve Marsh, commented on the new round: “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,” he said.

“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.”

Cambridge Innovation Capital CEO Victor Christou also commented on the investment: “GeoSpock’s products allow companies to assess and predict geographical demand rapidly to improve management and allocation of resources.,” he said.

“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,” he concluded.

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