Rezatec announces completion of £2m financing round to expand delivery of geospatial data analytics worldwide
14th February 2018
Rezatec closes £2m financing round and focuses on accelerated sales of Rezatec satellite-driven data analytics to customers in Europe, USA and Asia-Pacific.
Rezatec, the leading provider of geospatial data analytics to the Infrastructure, Forestry and Agribusiness sectors, today announced completion of the second phase of a £2m financing round with support from Newable Private Investing through its Scale Up Fund. The capital secured underpins continued expansion of Rezatec’s commercial customer base in its target markets.
Rezatec algorithms process optical and radar satellite data with ground-based sensor data to deliver predictive and dynamic monitoring analysis to its customers. Customer access to data is provided via an annual subscription model. The Company’s analytics target critical commercial needs such as commodity crop yield optimisation, forest inventory management and identification and prediction of pipeline network leakage. Rezatec automated and scalable products deliver substantial payback for customers across areas of interest that range in size from a square mile to millions of acres dependent upon the targeted commercial need.
“We are making rapid progress with subscription sales of our geospatial data analytics for customers in our target markets worldwide,” said CEO Patrick Newton. “The support of our investors in this round has helped us continue on our fast growth track as we deliver proven products to new and existing customers. As we continue on this growth trajectory, we anticipate further financing rounds to ensure that we strengthen and consolidate our market position in the period ahead.”
“Rezatec is a great example of an innovative company that uses geospatial data analysis techniques to provide actionable commercial insights to its customers. The company’s technology is already being used by a significant number of notable clients and our investment will now drive further commercial growth.”
Anthony Clarke, Managing Director, Newable Private Investing
Rezatec proprietary algorithms process data inputs from satellite, airborne and ground sensors to predict outcomes for key assets across a range of industry verticals. Users access Rezatec analytics through subscription to the Rezatec geospatial portal. Rezatec enables yield optimisation for commodity crops in the Agribusiness sector; identifies harvestable inventory in the Forestry sector; and pipe bursts and subsidence movements in the Infrastructure domain. Rezatec users include major utilities, agribusinesses, large forestry groups, consulting partners and governments worldwide.
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