Gaist, a Lancaster, UK-based highways technology company, raised a £2.7m growth investment.
BGF made the investment.
The company intends to use the funds to accelerate its roadscape information and machine learning research within HighwayView, and expand its teams to support the growth in customers across multiple sectors and countries.
Led by founder and CEO Steve Birdsall, managing director Paula Claytonsmith, director of innovation and research Stephen Remde, Gaist captures and analyzes continuous, high-definition imagery – 900 times the detail of Google Maps – about road conditions and the highways network. The company has collected more than 1.5 billion megabytes of imagery over the past 10 years, including the entire classified road network in England, with more roads now being added. Its machine learning research, smart algorithms and AI capability is now being used to analyze all roadscape information in the UK.
Gaist has developed this into IP-rich proprietary software, which can be imported into the asset management systems of highways network operators, local authorities, mapping companies, major utilities and other blue-chip firms.