Data firm GSI backed for growth in US market
Global Surface Intelligence (GSI), the Edinburgh-based data analytics company, has received investment from Alter Technology TUV Nord Group (TUVN) in exchange for a minority stake in the business and a seat on the board.
No details of the sum involved was disclosed. Both Par Equity and Scottish Enterprise will remain as investors in the company which helps with critical decision-making in commercial forestry.
The company uses satellite imagery in combination with other data sources to deliver for forest inventories.
The new investment will be directed at business development, sales and marketing in the US market US where GSI has won contracts with timber management and forestry asset owners. There will also be addtions to the core team in the UK.
Matt Tryburski, the Company’s founder who is based in the US, will re-join the company as CTO on a full time basis.
GSI will be looking to leverage its significant market knowledge of forest carbon into the European market.
Peter Young, GSI’s chief executive, said: “This investment is a major step forward for GSI and will drive the scale up we have planned for some time.
“It is a significant statement from TUV Nord to invest in a geospatial company of our size. I’m also excited to partner with them over the next few years to explore the application and potential of earth observation in their own businesses.”