EeGeo, a Scotland-based 3D mapping and visualisation company, has closed a $5m funding round from Netsol Technologies and a group of undisclosed investors.
According to a statement, the newly procured funds will allow the company to serve increasing demand and enhance its platform.
Officially launched in 2015, the company says its platform is used by the likes of Cisco and NTT DoCoMo to deliver 3D map experiences.
Speaking about the raise, Ian Hetherington, CEO and founder, said: “We have seen an increase in customers and partners wanting to implement our mapping technology as part of their business offerings, in order to better engage with their end-users, maximise efficiency and create additional revenue streams.
“This strategic funding will put us in a position to serve a much larger market, whilst delivering new features and making our solution widely available,” he concluded.
Najeeb Ghauri, CEO of NetSol spoke about his firm’s involvement, noting: “This is an opportunity to partner with a transformative company and grow a new revenue stream by collaborating on eeGeo’s disruptive product roadmap.
“At NetSol we have an immense pool of talented software engineers working on developing cutting edge solutions for our industry vertical. This partnership was born out of a shared confidence that this same talent pool could accelerate eeGeo’s product vision. We look forward to closely working with eeGeo as they continue to grow their business,” said the CEO.