BGS International, a Nottingham, UK-based geoscience company, has received a £200k investment.
Backers include Midven’s Rainbow Seed Fund, which committed £60k.
The company intends to use the capital to expand into areas such as the provision of geodata services.
Spun out from the British Geological Survey in 2011 and led by managing director David Ovadia, BGS International undertakes geoscience surveys in mineral-rich countries. Its geoscientists are currently working on projects in Tanzania, Sudan, Cameroon and Afghanistan that have the potential to run until 2014, with a further pipeline of prospects stretching out for several more years.
The company currently employs three full time directors plus support staff in its East Midlands headquarters and has 20 consultants working worldwide. It is currently hiring (http://www.bgsinternational.co.uk/vacancies.html).