GeoDigital, an Ottawa-based provider of next‐generation 4D Geospatial imaging and business intelligence solutions, has raised an undisclosed amount of new equity financing led by EnerTech Capital and Emerald Technology Ventures. The company’s existing investors, including NGP Energy Technology Partners and North Sky Capital also participated in the funding.
“To make critical business decisions and ensure compliance with regulatory requirements, utility companies worldwide are turning to GeoDigital for geospatial imaging and mapping solutions to monitor and inspect their geographically dispersed assets with engineering precision. Our solutions enable our clients to achieve significant productivity improvements by managing subsequent field work, including through the use of web-enabled mobile devices,” said CEO Alastair Jenkins. “In addition, our solutions are creating path-breaking innovations in mapping to support autonomous (self-driving) vehicles.”
Meanwhile EnerTech Capital’s Scott Ungerer said his firm’s investment in GeoDigital was driven by the “growing focus of utilities and other infrastructure owners on increasing operational efficiency and regulatory compliance as well as with the growing acceptance of geospatial mapping solutions to meet these challenges.”
GeoDigital is a leader in LiDAR mapping and imaging technology for engineering surveys and “right of way” mapping for the electric utility, pipeline, telecommunication, highway, railway and other industries. The company said on its website that it provides “the most advanced geospatial asset management solutions in the industry. In conjunction with our aerospace engineering team at PV Labs and predecessor company (Wescam) we have been successfully co-developing “state of the art”, stabilized airborne and terrestrial remote sensing systems for government and civilian agencies for over 20 years.”
“GeoDigital is a market leader in providing these services and software solutions, and we expect GDI to help drive significant global growth. Our investment in GeoDigital also demonstrates our continued focus on investments in high-quality companies across Canada,” said Ungerer.
CanadianPrivateEquity.com reported the story yesterday.