Earth Blox to Push Growth with £1.5m Funding
Scottish tech firm Earth Blox will push forward with plans to expand its global reach and develop its no-code Earth observation (EO) cloud-based SaaS thanks to £1.5 million in funding.
The company’s services help users create customised insights from satellite and geospatial data. While harnessing satellite imaging data normally requires technical coding capabilities, Earth Blox’s platform offers simplifies this by combining access to Google Earth Engine’s petabytes of planetary-scale data with a ‘drag and drop’ interface.
This helps meet the growing needs of a wide range of sectors, businesses, and users for EO insights as part of strategic planning, monitoring and reporting.
With net zero and ESG as key drivers, the EO market for value-added services like Earth Blox is forecast to double in the next ten years from £1.86bn in 2021 to £3.97bn by 2031.
Earth Blox CEO Genevieve Patenaude said: “We are very pleased to secure this funding from Archangels and join a strong portfolio of businesses in the life sciences and tech sectors."
“Investment into innovative businesses like ours is vital to growth in all areas, from customer acquisition to building a great team."
“This investment will help us develop Earth Blox as a scalable SaaS and get the power of Earth observation insights into the hands of a range of users around the world.”
The investment comes from Archangels, a business angel syndicate investing in early-stage Scottish life sciences and technology companies.
This seed round will allow Earth Blox to scale its product, to increase the volume of data sources, and to expand into new markets including, agriculture, urban development, finance for asset management, and ESG.
Niki McKenzie, Joint Managing Director at Archangels, said: “Earth Blox is pioneering the way companies and organisations can access and use satellite data to make better business decisions about the world and how it’s changing."
“Based in Scotland but with global ambitions, Earth Blox aligns perfectly with our aim of supporting Scotland’s best early-stage businesses with high growth potential. We look forward to supporting Genevieve and her team on this next step of the journey to further develop the product and open up new markets.”
Source: DIGIT NEWS