GeoSpock completes £3,500,000 ($5,400,000) Series A fundraising
UK tech firm raises cash to commercialise its real-time database products for extreme-scale, rapidly-changing and complex data.
Cambridge UK, October 6th 2015; GeoSpock Limited (GeoSpock) today announces the close of a Series A investment round of £3,500,000 ($5,400,000). The investment has been led by leading UK entrepreneurs Dr Jonathan Milner, Deputy Chairman and founder of AbCam plc (AIM: ABC), Dr Darrin Disley, CEO of personalised medicine firm Horizon Discovery Group plc (AIM: HZD), Parkwalk Funds and Cambridge Innovation Capital. Sir Michael Marshall, Executive Chairman of Marshall of Cambridge and Mr Richard Youngman, Partner at Anvil Partners complete the investment syndicate.
GeoSpock has raised the funds to expand the world-class computer science team developing its cloud and containerised database products, increase sales, marketing and business development efforts and strengthen its management team and Board of Directors.
GeoSpock has recently begun marketing an extreme-scale, geo-location database product that provides real-time capture, storage, access and analysis for the rapidly increasing amount of dynamic data being generated by mobile devices and the Internet of Things. This allows organisations to create new and innovative products and services for the next generation of online applications.
The long-term mission of GeoSpock is to become the go-to search solution for complex, multi-dimensional big data, extending the reach of the technology and bringing the same speed, scalability, and simplicity advantages to applications including weather modelling, facial recognition, voice recognition, and DNA sequencing for healthcare.
Steve Marsh CEO and co-founder of GeoSpock commenting on the announcement said:
“At GeoSpock we believe in making the world we live in more intuitive through the use of technology. With the exponential growth in data and information from devices on the Internet of Things – 15 billion at the last count – new approaches are needed to make sure the value inherent in this data can be realised in real time. GeoSpock’s technology lets companies gather, store and analyse these new dynamic data sources immediately. It’s a new, evolutionary approach that doesn’t suffer from the bottlenecks of the current generation of databases.
In a world which is rapidly changing and has the number of connected mobile devices growing exponentially we knew we had to solve the scalability challenges. Google has managed to maintain consistent sub-second query times regardless of how big the web grows; we are currently achieving the same consistent sub-second query times (across 10,000 concurrent searches) regardless of how large your geospatial dataset grows or how rapidly it changes – and we wanted to do this while still keeping costs low.”
In addition to the fundraising GeoSpock announces the appointment of Stephen Churchhouse, Director of Corporate Planning for Rolls Royce (representing Parkwalk Advisors) and Victor Christou, Senior Investment Director of Cambridge Innovation Capital as non-executive directors.
Dr Darrin M Disley, Chairman and co-founder of GeoSpock commenting on the appointments said:
“I am excited to welcome Stephen and Victor to the company at this pivotal time in its growth. The talented team we have assembled has made great progress in developing a robust technology stack capable of focused on solving problems in the mapping, mobile and logistics sectors, and is also well positioned to provide future solutions for retail analytics, financial and security applications. The raising of the new funds and addition of significant industrial expertise will enable the company to deliver commercial success for its initial geo-spatial products make strides towards its long-term ambition of being the go-to search solution for complex big data”