Rezatec, a Harwell, UK-based provider of satellite-driven data analytics for users in the Utilities, Agribusiness and Energy sectors, completed a £1m+ seed financing round.
The round was led by Run Capital, with participation from the Harvard Business School Alumni Angels and existing shareholders.In conjunction with the funding, Cornel Riklin of the Harvard Business School Alumni Angels and Caphaven Partners, joined the Board of Rezatec.
The company intends to use the funds to expand its sales and marketing teams worldwide as it continues to expand its global customer base.
Led by CEO Patrick Newton, Rezatec provides satellite-driven data analytics for users in the Utilities, Agribusiness and Energy sectors.
Its proprietary algorithms process data inputs from satellite, airborne and ground sensors to predict outcomes for key assets in a number of industry verticals. The solution enables yield optimization for commodity crops in the Agribusiness sector; water catchment pollution and soil erosion forecasts in the Water Utilities sector; and pipe bursts and subsidence movements in the Energy and Utilities sectors.
Users include major UK utilities, agribusinesses, consulting partners and government.