£3.5m boost to de­velop drone tech

Birmingham Post - - FEATURE -

A DRONE com­pany has se­cured £3.5 mil­lion in eq­uity fund­ing to help it de­velop new prod­ucts and ser­vices.

Geospa­tial In­sight, based in Coleshill, spe­cialises in satel­lite and drone re­search and will use the fund­ing to de­velop its vis­ual in­tel­li­gence tech­nol­ogy.

Its tech­nol­ogy was used in the wake of Hur­ri­cane Har­vey in Texas last year where live footage was broad­cast from its drone net­work.

Be­cause some ar­eas were ren­dered out of reach due to im­pass­able roads, the live footage meant in­sur­ers were able to eval­u­ate ob­jects as small as 1cm, ex­pe­dit­ing claims and re­im­burs­ing thou­sands dis­placed from their homes.

The firm has also used so­cial me­dia to de­velop its re­sponse to nat­u­ral dis­as­ters by cre­at­ing a pro­gramme that au­to­mat­i­cally gath­ers all feeds re­lat­ing to a ma­jor event, giv­ing an­a­lysts the chance to gather in­for­ma­tion

This lat­est round of fund­ing has come from the Mid­lands En­gine In­vest­ment Fund, man­aged by Mid­ven, along­side Fore­sight Wil­liams and Ven­turesOne.

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