Laser mapping firm announces merger after £5.4m funding deal

Nottingham-based mapping company, GeoSLAM, has merged with 3D Laser Mapping after landing a £5.4m funding deal.

The cash has been provided by Frontier Development Capital and Clydesdale Bank and will also see the firm “significantly accelerate” the development and marketing of new products to international markets.

Best known for its range of hand-held laser 3D mapping devices and accompanying software systems, GeoSLAM’s products are used to survey complex environments such as mines, tunnels and caves. The company has experienced strong growth since its launch in 2012 and now sells its technology to over 80 distributors in more than 60 countries.

Shelley Copsey, chief executive at GeoSLAM, said: “We are an incredibly ambitious organisation and our recent merger, supported by this investment, has meant we are now able to use our combined experience in international distribution, innovation and R&D to deliver the next generation of products to clients in an incredibly wide portfolio of industries.

Ondrej Okeke, investment director at Frontier Development Capital, said: “GeoSLAM is pushing the boundaries in laser mapping and monitoring technology. We are backing a very strong management team with considerable experience in developing technology and bringing innovative new products to market both domestically and overseas.

“By providing this finance alongside Clydesdale Bank, we are supporting the rapid growth of GeoSLAM as it delivers improvements to its R&D capabilities and launches new laser mapping and monitoring products.”

The £5.4mm investment package is made up of £4m from Clydesdale Bank and £1.4m from Frontier Development Capital.