Rovco secures angel investment from Green Angel Syndicate to launch subsea inspection technology.
The funding from Green Angel Syndicate will support the rollout of live three dimensional visual inspection systems for the global energy market.
Rovco provides subsea inspection and survey services using real-time three dimensional vision systems and artificial intelligence for offshore energy infrastructure.
Subsea services company Rovco has secured angel investment from Green Angel Syndicate to support the commercial rollout of its live three dimensional visual inspection technology. The funding will enable the firm to introduce its inspection systems to the global energy market and expand its operational capacity.
The company plans to add three new remotely operated vehicles to its fleet over the coming months to meet rising demand around offshore wind farms, pipelines and cables. Founded less than two years ago, Rovco has expanded its workforce to sixteen employees and intends to increase headcount to thirty five over the next year.
The latest capital injection follows two years of research and development, including field trials that began last month. The company aims to establish itself as a market leader within five years and projects substantial export revenue growth.
From the founder
"We have entered the second quarter of 2018 with a strong pipeline of sales and we are extremely confident in our ability to grow our client base both in the UK and overseas. This latest financial backing will not only allow us to accelerate our growth plans, but it will see us work alongside some of the UK’s most well-established and knowledgeable business leaders whose industry experience will be extremely valuable in the next stage of our development."
Brian Allen
Founder and CEO at Rovco
Investor perspective
"We are hugely excited by Rovco’s potential to boost the efficiency of the UK and global offshore wind energy supply. It’s a market which we believe will continue to see significant growth in the coming years, and we are delighted to support the Rovco team."
Cam Ross
CEO, Green Angel Syndicate
Use of funds
- 01Grow the team
- 02Build out infrastructure
Investors
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About the company
Rovco
Rovco develops live three dimensional visual inspection systems for subsea operations.