16 May VC Activity Is Alive and Kicking in GIS
Despite market ups and downs that are transpiring in worldwide financial markets, investors seem to be hot on the trail of explosive growth in the GIS sector. The latest beneficiary is eeGeo, a 3D mapping and landmark visualization company, based out of the United Kingdom.
This business entity just recently raised $5 million in funding from Netsol Technologies, an information technology-based financing firm.
Part of this deal also includes access to Netsol’s highly coveted software engineering team. eeGeo already has millions of end-users and subscribers, worldwide.
With eeGeo’s GIS technological expertise, any business can very easily visualize, manipulate, and comprehend complex data sets in a 3D mobile experience. Leading customers include both Cisco and DoCoMo.
This new funding will be used by eeGeo in a variety of different ways, including the following:
- Developing its next-generation interior mapping capabilities.
- Scaling up to meet increased customer demand to have the ability to create a 3D image representation of any space.
- Creating and deploying end user implementations at a much quicker rate of delivery, thus greatly reducing the current lag experienced in the time to market ratio.
- Giving the customer the ability to personalize the software services offered to fit their own specific requirements and needs.
According to Ian Hetherington, CEO and Founder of eeGeo, “Following the official company launch in 2015, we have seen an increase in customers and partners wanting to implement our mapping technology as part of their business offerings, in order to better engage with their end-users, maximize efficiency and create additional revenue streams . . . This strategic funding will put us in a position to serve a much larger market, whilst delivering new features and making our solution widely available.”
GeoTel is a telecommunications research and GIS mapping firm that researches and provides telecom datasets for more than 5,500 cities in the United States and worldwide. GeoTel’s expertise includes specialists in economic geography, geospatial engineering, web GIS, and telecommunications GIS Data infrastructure.