CIC et al. in £10m round for GeoSpock

The investment was jointly led by existing backers Cambridge Innovation Capital (CIC), Parkwalk Advisors, and Japanese firms Global Brain and 31Ventures. Japanese data tech company KDDI Supership and existing backer Jonathan Milner also contributed to the round.

The latest funding has brought the total capital raised to date to £19.25m.

The additional funding will support GeoSpock's international expansion, particularly in Singapore and Japan. Moreover, it will also allow the firm to continue to invest in research and development, particularly in the areas of machine learning and data science.

Previous funding
In 2015, CIC, Parkwalk Advisors and a consortium of investors provided a £3.5m round of growth capital funding to GeoSpock.

Three years later, CIC led a $6.6m second tranche of series-A funding. Also taking part in the deal were new backers Global Brain and 31 Venture, and existing investors Parkwalk and Michael Marshall, bringing the total value of the series-A round to $13.2m.

The fresh capital was meant to help the business build out its commercial and engineering teams in the UK, continental Europe, Japan and the US.

Company
Founded in 2013 and headquartered in Cambridge, GeoSpock develops a geospatial platform that provides the back-end data store for location-oriented services.

The company's clients include businesses across the automotive, telecoms, mobility, marine, media and retail sectors in order to help them manage autonomous vehicle fleets.

People
Cambridge Innovation Capital – Victor Christou (CEO).
GeoSpock – Richard Baker (CEO).

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