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6 February 2020
6 February 2020
Gresham House’s Baronsmead and Renewable Energy VCTs have co-invested £5m into Rezatec to fund its continuing growth and international expansion.
This represents the first co-investment between the two VCTs at Gresham House, leveraging knowledge and capability across teams.
Rezatec applies its unique machine learning algorithms to a wide range of earth observation data, such as satellite imagery, soil, weather and topographic data, to generate data analytics products.
These products help Rezatec customers in the forestry, agriculture and infrastructure sectors to substantially improve returns derived from their assets distributed across very large areas worldwide.
Rezatec’s technology offers a step-change in efficiency where asset owners are still using inefficient, manual, labour-intensive approaches to measure and monitor asset performance. Rezatec data analytics deliver high accuracy with scalable cost efficiency through automated processing of satellite generated inputs.
N+1 Singer acted as exclusive Financial Advisor to Rezatec Limited and its shareholders.
Patrick Newton, CEO of Rezatec, said:
“The investment from Gresham House accelerates our ability to build sales capabilities in key markets in North America and South Asia and to extend our product development capacity at home in the UK. This supports our goal of becoming the global leader in each of our target markets. We are very pleased to have Gresham House on board as a shareholder of Rezatec.”
Thomas Makey, Associate Director at Gresham House Ventures, continued:
“Gresham House Ventures invests in growth businesses with bold ambitions. Rezatec is a world leader in geospatial data analytics, with expertise across multiple sectors, including forestry, agriculture, infrastructure and financial services. The business is perfectly positioned to expand its global footprint and market share. We look forward to continuing our partnership with the firm as it goes through this next stage of growth.”
Cornel Riklin, Non-Exec Chair Rezatec and Managing Partner Caphaven Partners, added:
“We have been pleased to see the continued development of Rezatec following our original investment. This investment by Gresham House Ventures provides a launch pad for Rezatec in its next stage of growth as it pushes hard into its target markets worldwide.”
Harry Gooden, Director, Technology Investment Banking at N+1 Singer said:
“Rezatec has grown rapidly, particularly with enterprise customers in North America and has built a highly scalable, market-leading SaaS platform that utilises low cost, real-time geospatial data to deliver actionable insights to its global client base. The financing will help Rezatec accelerate growth by building out its sales organisation, speeding up international expansion and becoming a market leader in its target verticals. We are delighted to partner Rezatec on their journey.”
For further information please contact:
+44 (0) 20 3995 6699
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