SatSense raises £1.5m from Mercia and the Future Fund to scale its satellite ground monitoring platform.
The Leeds-based geospatial technology firm secured backing from NPIF - Mercia Equity Finance and the Government's Future Fund.
SatSense develops satellite technology to monitor ground movements and detect subsidence for infrastructure and property sectors. The company provides near real-time data to help engineers and asset managers assess site stability.
Leeds-based SatSense has secured £1.5m in seed funding to support its ongoing product development and team expansion. The latest round was backed by NPIF - Mercia Equity Finance and the Government's Future Fund, bringing the company's total funds raised to nearly £3m.
The investment arrives as the company prepares to launch an online platform designed to deliver instant ground movement data to professionals across the UK. SatSense intends to use the capital to refine its technology and create six new roles over the coming year.
From the founder
"The SatSense founders have taken technology that was once only available to governments and research institutes and made it accessible for day to day business use. Our system is the only one that offers instant access to highly accurate, near real-time data over huge areas. The service will become all the more important given the impact of climate change. As hotter summers and wetter winters exacerbate seasonal changes in ground conditions, it will allow us to identify areas worst affected and provide warnings on infrastructure or properties at risk."
Matthew Bray
CEO at SatSense
Investor perspective
"Subsidence is not only a costly problem for property owners, it is also a major hazard. Landslips, the failure of bridges or dams and even sinkholes can result in widespread disruption and loss of life. SatSense’s technology marks a step change in our ability to monitor sites remotely and detect changes at an early stage. We believe it has potential for worldwide use to help reduce costs and prevent future disasters."
Will Clark
Mercia
Use of funds
- 01Continue product development
- 02Grow the team
