UK data analytics company Rezatec has raised £2 million in new funding led by Caphaven Partners to investin reaching the Asia-Pacific market. Newable Private Investing participated in the round.
The Oxford-based company builds geospatial data analytics for processing data from optical and radar satellites and ground sensors to predict outcomes on the field. It serves the infrastructure, forestry, and agribusiness sectors, with use cases such as inventory management and crop yield optimisation, and plans to expand globally with particular attention on APAC.
Rezatec works on a subscription-based business model where it charges customers to access the data and analytics portal. Sales are making “rapid progress”, according CEO Patrick Newton, and the new investment will accelerate this growth.
“As we continue on this growth trajectory, we anticipate further financing rounds to ensure that we strengthen and consolidate our market position in the period ahead,” said Newton.
“Rezatec is a great example of an innovative company that uses geospatial data analysis techniques to provide actionable commercial insights to its customers,” commented Anthony Clarke, managing director of New Private Investing. “The company’s technology is already being used by a significant number of notable clients and our investment will now drive further commercial growth.”