Tuesday, May 11, 2021

Leeds satellite data specialist secures £1.5m ahead of new product launch

Leeds tech company, SatSense, has secured £1.5 million as the firm readies the launch of its new online platform.

The platform will be the first to give engineers and other professionals instant access to up-to-date information on ground movements at sites throughout the UK and beyond.

The funding for SatSense, whose technology can detect subsidence from satellite data, comes from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, and the Government’s Future Fund.

SatSense was launched in 2018 by Professors Tim Wright and Andy Hooper from the University of Leeds, who had spent a combined 35 years developing the algorithms.

The latest investment will allow it to further develop the product and boost its seven-strong team, creating six new jobs in the year ahead. It is the third funding round by NPIF – Mercia Equity Finance and brings the total raised by the company to almost GBP3 million.

“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,” said SatSense CEO Mathew Bray.

“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.”

Will Clark, Head of Equity at Mercia, says: “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.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Builder shortage? 3 tips for improving recruitment

Standards are high in the construction field, so it’s important that your recruitment processes are impeccable. This will help you net the best talent on...

How a bad job advert can affect your chances of finding the right candidate

A job advert is your first opportunity to introduce yourself to prospective employees and attract the right talent. It is crucial this first impression...

Britain’s bosses accused of negligence: what might they do to improve?

Due to the difficult conditions most businesses are subject to, the need for apt leadership is perhaps more prevalent than ever before. A damning BBC...

Lincoln Science Park secures £10m to accelerate second phase of development

A £10m funding package has been secured to begin developing the next stage of Lincoln Science & Innovation Park. This follows its success in...

Sheffield solicitors launch national wealth service

Sheffield solicitors, Taylor&Emmet, is introducing a new multidisciplinary service tailored to the needs of high-net-worth and ultra-high-net-worth individuals. The firm has created a dedicated wealth...

Developer secures £17m to improve South Leeds’ transport infrastructure

Leeds property investment and development company, Munroe K, has secured £17 million to improve transport infrastructure in South Leeds. The company secured the funds after...

Related news

Lincoln Science Park secures £10m to accelerate second phase of development

A £10m funding package has been secured to begin developing the next stage of Lincoln Science & Innovation Park. This follows its success in...

Sheffield solicitors launch national wealth service

Sheffield solicitors, Taylor&Emmet, is introducing a new multidisciplinary service tailored to the needs of high-net-worth and ultra-high-net-worth individuals. The firm has created a dedicated wealth...

Developer secures £17m to improve South Leeds’ transport infrastructure

Leeds property investment and development company, Munroe K, has secured £17 million to improve transport infrastructure in South Leeds. The company secured the funds after...

IP law firm continue expansion with new Dublin office

Yorkshire-based intellectual property law firm Secerna is preparing for the next phase of growth, opening a Dublin office headed by former Accenture in-house counsel...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close