A START-UP that makes analytics software to interpret data gathered from space is accelerating its growth plans after securing a second round of funding.
Edinburgh-headquartered Global Surface Intelligence (GSi), which has developed predictive analytics and machine-learning programs to turn raw earth observation data into commercially useful information about the environment, raised £775,000 in the latest round.
Original backers Par Equity and the Scottish Investment Bank were joined by Green Angel Syndicate. The move takes the total raised by the firm to £1.18 million since February 2013.
The investment is set to accelerate GSi’s growth plans, with the team projected to double, reaching 14, by 2016.
Chief executive Nigel Douglas said the latest round of funding attracted far more investment than had initially been intended.
“While we could have kept going, it was decided to close the funding door at £775,000 before things got silly,” he said.
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