MGISS Secures Funding to Develop Satellite-based Geospatial System
Mobile GIS Services (MGISS), a Liverpool-based provider of geospatial software for utility companies, has recently secured £600K in funding from NPIF – Mercia Equity Finance. This investment comes as part of the company's plans to develop a new system in collaboration with the European Space Agency (ESA). With the funding, MGISS also aims to create 11 new job opportunities in the upcoming year. MGISS, led by CEO Mike Darracott, specializes in using satellite data and mapping technologies to help operators identify potential risks, ensuring that construction work or new projects do not interfere with existing infrastructure. The company's clients include notable names such as Northumbrian Water Group, Wales and West Utilities, and Galliford Try, among others. Moreover, MGISS's systems are also utilized by organizations like the National Trust and South West Peatland Partnership for heritage mapping and conservation work monitoring, respectively.
One of the key features of MGISS's new system will involve the use of high-resolution satellite images provided by ESA.
By harnessing this 'eye in the sky', utility firms across the globe will be able to effectively monitor crucial locations, reducing the need for helicopters to conduct fly overs and consequently minimizing carbon emissions. The investment from NPIF – Mercia Equity Finance comes as a significant milestone following MGISS's impressive growth over the past three years. During this period, the company has managed to increase its annual recurring revenue by more than 300 percent.
MGISS's mission to provide innovative geospatial solutions to utility companies showcases their commitment to leveraging cutting-edge technology to enhance infrastructure management. With their expertise in satellite data analysis and mapping technologies, MGISS empowers operators to proactively address potential risks and streamline operations. The funding secured from NPIF – Mercia Equity Finance ensures that MGISS can continue to expand its capabilities and contribute to the development of sustainable practices within the utility industry.
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