Cambridge data analytics company GeoSpock has nabbed $5.4 million in funding led by blockchain R&D firm nChain and Cambridge Innovation Capital.
The investment brings GeoSpock’s total funding to date to $32 million. NTT DOCOMO Ventures, the investment division of the Japanese telco, joined the round alongside existing backers Global Brain, Parkwalk, KDDI Innovation Fund, 31 Ventures, and Meltwind.
GeoSpock founder and CTO Dr Steve Marsh said that its database technology helps clients analyse and manage unwieldy amounts of data, driven by IoT, connected vehicles and smart cities.
“Businesses have realised that advanced analytics and rapid innovation is the key to building competitive advantage in a data-driven world, so where billion row queries that took hours were once acceptable, the market now demands trillions of rows and speed-of-thought results,” Marsh said.
The new funds will be invested in product development and expanding into new geographies with help from its investors.
“We expect to become central to the companies and nations across the globe, transforming their legacy data infrastructures and building agile logical data warehouses,” CEO Richard Baker added.
“Versus existing competitors our platform is the best performing solution on the market – it is faster, more flexible, and drives cost predictability for connected everything workloads where location, time, and device analytics underpins autonomous decision making.”