Harwell, Oxfordshire, 22nd April 2016 – Rezatec, the leading provider of satellite-driven data analytics for users in the Utilities, Agribusiness and Energy sectors, announced today completion of a £1m+ seed financing round. Run Capital led the round with support from the Harvard Business School Alumni Angels and existing shareholders. Rezatec will use the capital secured to expand its sales and marketing teams worldwide as it continues to expand its global customer base.
The financing follows a number of contract awards for subscription to the Company’s unique landscape intelligence portal by customers seeking to enhance their corporate predictive and forecasting capabilities around their land based assets. Application of Rezatec’s data analytics can significantly improve landscape asset yields through enhanced commodity crop productivity in the Agribusiness sector and reduced network infrastructure costs in the Utilities domain.
“We are making clear headway with commercial sales of satellite-derived data analytics in a number of sectors worldwide,” said CEO Patrick Newton. “The support of our investors in this round is key to our expansion plans into this new and fast developing segment of big data analytics.”
Andrey Romanenko, Managing Partner of Run Capital commented, “We are very pleased to have led on this round of investment in Rezatec. We believe the Company is well placed to capitalise on its leadership position in this fast developing data analytics sector. The rapid growth in the availability of satellite raw imagery combined with Rezatec’s proprietary technology offers up substantial commercial opportunity in a number of markets worldwide.”
Cornel Riklin of the Harvard Business School Alumni Angels and Caphaven Partners, who joined the Board of Rezatec on completion of the round, added “Rezatec delivers substantial value add to a whole range of sensor data inputs above and beyond raw satellite imagery. Its proprietary processing of these inputs can generate advanced analytics for a much broader range of verticals and geographies than its current area of operations. The scale of this market opportunity available to the Company was a critical factor behind our investment decision.”
Neeshu Lukha, Board Member of the Harvard Business School Alumni Angels concluded, “A number of our members were very excited by the Rezatec proposition and were keen to be involved in this round. Many of our members consider earth observation data analytics to be a true big data proposition and see a very substantial market opportunity for Rezatec in the period ahead.”
Rezatec proprietary algorithms process data inputs from satellite, airborne and ground sensors to predict outcomes for key assets in a number of industry verticals. Users access Rezatec analytics through subscription to the Rezatec landscape intelligence portal. Amongst its solution sets, Rezatec enables yield optimisation for commodity crops in the Agribusiness sector; water catchment pollution and soil erosion forecasts in the Water Utilities sector; and pipe bursts and subsidence movements in the Energy and Utilities sectors. Rezatec users include major UK utilities, agribusinesses, consulting partners and government.
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