EO Data Startup Rezatec Raises $1.4 Million for Satellite-Based Analytics
[Via Satellite 04-22-2016] Rezatec, a U.K.-based Earth Observation (EO) data analytics company formed in 2012, has raised more than $1.4 million in a seed financing round to expand its sales and marketing teams worldwide. Run Capital led the round with support from the Harvard Business School Alumni Angels and existing shareholders.
Rezatec provides satellite-driven data analytics for users in the utilities, agribusiness and energy sectors. The financing follows a number of contract awards for subscription to the company’s landscape intelligence portal by customers seeking to enhance their corporate predictive and forecasting capabilities around their land-based assets.
“We are making clear headway with commercial sales of satellite-derived data analytics in a number of sectors worldwide,” said Rezatec 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.”
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. Among its solution sets, Rezatec enables yield optimization 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 U.K. utilities, agribusinesses, consulting partners and government.