A SCOTTISH Enterprise-backed space firm that uses satellite data to analyse the health of land for land owners, investors and service providers has secured a seven-figure investment package that will drive an ambitious scale-up.
Global Surface Intelligence (GSI) provides forestry data and analytics to support clients’ critical investment decisions and is primed to capitalise on the rapidly emerging carbon market. The money will support its expansion into the US, with US-based new hires set to join the firm in early 2023.
The Edinburgh-based geospatial company has agreed investment from Alter Technology TUV Nord Group (TUVN) for a minority stake in the business.
As a result, TUVN will take a seat on the board and also have a board observer. Edinburgh-based Par Equity and Scottish Enterprise will remain as investors in the company. GSI is a market-leading company, providing commercial forestry data and analytics to support clients’ critical investment decisions.
It uses satellite imagery in combination with other data sources to deliver highly accurate and wide-scale forest inventories.
The principal market is in the USA where GSI has successfully won contracts with the leading timber management and forestry asset owners.
The investment will be directed at business development, sales and marketing to build on GSI’s current US reputation and footprint.
New hires will join by the first quarter of 2023 in the US while others will be recruited to add to the core team in the UK.
GSI will also look to leverage its significant market knowledge of forest carbon into the European market.
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