Earth Blox raises new funding to scale operations
Scottish mapping firm Earth Blox has secured £1.5m from Archangels to expand its global reach and further develop its technology.
Earth Blox offers satellite imaging to firms in sectors ranging across the energy, insurance and environmental sectors to provide data on such issues as climate risk.
The seed round will allow Earth Blox to scale its product and expand into new markets including agriculture, urban development and asset management.
Its customers include Shell Nature Based Solutions, the United Nations, Globe Underwriting, and ADM Capital Foundation.
Genevieve Patenaude, CEO at Earth Blox, said: “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.”
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.
“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.”