Scottish geospatial company Global Surface Intelligence (GSI) has announced a major investment from Alter Technology TUV Nord Group (TUVN) for a minority stake in the business.
As a result of the funding boost, TUVN will take a seat on the board and have a Board Observer. Both Par Equity and Scottish Enterprise will remain as investors in the company.
Edinburgh-based GSI provides commercial forestry data and analytics to support client’s critical investment decisions. The company uses satellite imagery in combination with other data sources to deliver highly accurate and wide scale forest inventories.
The company’s principal market is in the USA where GSI has successfully won contracts with the leading timber management and forestry asset owners.
Investment will be directed at business development, sales, and marketing to build on its current US reputation and footprint. New hires will join by the first quarter of 2023 in the US while others will be recruited to add to the core team in the UK.
GSI also said it would look to leverage its significant market knowledge of forest carbon into the European market. Matt Tyburski, the Company’s founder who is based in the US, will re-join the company as CTO on a full-time basis in the next few weeks.
Peter Young, GSI’s CEO, commented: “This investment is a major step forward for GSI and will drive the scale up we have planned for some time.
“It is a significant statement from TUV Nord to invest in a geospatial company of our size. I’m also excited to partner with them over the next few years to explore the application and potential of earth observation in their own businesses.”