UK – Mobile GIS Services, a Liverpool, UK-based provider of geospital software for utility companies, raised £600K in funding.
The investor was NPIF – Mercia Equity Finance, managed by Mercia and part of the Northern Powerhouse Investment Fund.The company intends to use the funds for the development of a new system that MGISS is working on with the European Space Agency (ESA). MGISS, which is based in Liverpool and employs 14 staff, also expects to create 11 new jobs in the year ahead as a result of the funding. Led by CEO Mike Darracott, Mobile GIS Services (MGISS) uses satellite data and mapping technologies to help operators identify potential risks, such as construction work taking place close to underground cables or power lines, or when planning new projects to ensure the work does not affect existing infrastructure. Current clients include Northumbrian Water Group, Wales and West Utilities and Severn Trent Water, construction firms such as Galliford Try, and bodies such as the National Trust, which uses its systems to map heritage sites, and South West Peatland Partnership, which uses them to monitor conservation work.The company will use high-resolution satellite images provided by the ESA to create an ‘eye in the sky’, enabling utility firms worldwide to oversee key locations while cutting carbon emissions by reducing or removing the need for helicopters ‘fly overs’.The latest investment follows three years of growth, during which time it has increased annual recurring revenue by over 300 per cent.29/01/2024
