GeoGrafi eyes expansion with equity investment
LIVERPOOL firm GeoGrafi, which specialises in mapping technologies, has secured a £150,000 equity investment from the North West Fund for Venture Capital.
The business supplies 3D mapping data to help organisations such as utility firms and local authorities carry out surveys.
It expects to use the investment to take on a further five staff over the next 12 months.
Mike Darracott, who set up the firm three years ago, said: “Geospatial technologies help organisations to reduce costs and manage their assets more effectively. Developments in 3D building information modeling, spatial data, mobile technologies and unmanned aerial vehicles will open up new possibilities and new markets in the years to come. This investment will help us to build expertise across new technologies and recruit new staff into sales, technical support and administration roles.”
GeoGrafi recently acquired Stockport-based Mobile GIS Services (MGISS) which is a reseller for a number of leading geospatial brands. MGISS founder Dave Shandley will continue to work at the business.
Chris Hardman of Enterprise Ventures, which manages The North West Fund for Venture Capital, said: “The geospatial solutions sector is set to grow considerably and GeoGrafi is well placed to take advantage of the opportunities that will emerge as a result.”
Andrew O’Mahony of Brabners provided legal advice to GeoGrafi while Melanie Yeomans of Ward Hadaway advised The North West Fund for Venture Capital.
