EnerTech Capital Announces Investment in Geospatial Data Company Geodigital International

June 11th 2014, Toronto Ontario – EnerTech Capital (“EnerTech”) is pleased to announce today that it has led the latest round of investment in Geospatial data company Geodigital International.

GeoDigital International Inc. (“GDI”), the leading provider of next generation 4D Geospatial imaging and business intelligence solutions, announced today that it has raised an undisclosed amount of new equity financing from leading international investors.  The round was led by EnerTech Capital, a North American Venture Capital investor focused on the energy and power industries, and Emerald Technology Ventures. They were joined in the round by GDI’s current investors, including NGP Energy Technology Partners and North Sky Capital. GDI will use the capital to fund the company’s product extensions and continued expansion in the United States, Canada and international markets. 

“There is a strong underlying investment theme for us around Big Data and GeoDigital has developed a strong proprietary business in the Power sector. With our previous investment in Space-Time Insight (big data visualization) and our firm’s history in the electric utility space, our investment in GeoDigital represents a further extension of our investment strategy in the space. GeoDigital represents our fourth Canadian investment in EnerTech IV and we believe the company is well positioned for strong future growth with this round of funding”

Wally Hunter – Managing Director, EnerTech Capital

"Our investment in GeoDigital was driven by the growing focus of utilities and other infrastructure owners on increasing operational efficiency and regulatory compliance as well as with the growing acceptance of geospatial mapping solutions to meet these challenges. GeoDigital is a market leader in providing these services and software solutions, and we expect GDI to help drive significant global growth.  Our investment in GeoDigital also demonstrates our continued focus on investments in high-quality companies across Canada.”

Scott Ungerer, Founder and Managing Director of EnerTech Capital

“This financing will enable GDI to extend the reach of our cloud-based business intelligence solutions to meet a wide range of client needs.  GDI’s solutions increase the reliability of the information on which our clients make mission-critical decisions and help them realize significant cost savings,We are proud that every all of our major existing investors as well as leading international investors EnerTech and Emerald participated in this financing.  These investors all have a superb track record of growing businesses across North America and internationally.”  

Abe Morris, Co-CEO, GeoDigital

“To make critical business decisions and ensure compliance with regulatory requirements, utility companies worldwide are turning to GeoDigital for geospatial imaging and mapping solutions to monitor and inspect their geographically dispersed assets with engineering precision.  Our solutions enable our clients to achieve significant productivity improvements by managing subsequent field work, including through the use of web-enabled mobile devices. In addition, our solutions are creating path-breaking innovations in mapping to support autonomous (self-driving) vehicles.” 

Alastair Jenkins, Founder and Co-CEO, GeoDigital

About GeoDigital International Inc.

GeoDigital International Inc. integrates the world’s most advanced imaging and data acquisition technologies to perform airborne and ground mapping services with LiDAR (Light Detection and Ranging) to deliver industry-leading business intelligence solutions for asset management and engineering. By providing access to geospatial information using proprietary software and web mapping technology in partnership with Google Earth and Google Maps Engine, GeoDigital offers utilities and engineering firms unrivaled access to their data anywhere, anytime to enable work planning, execution, and reporting. 
GeoDigital and its predecessor companies have a 20-year history in airborne mapping for the utility industry, providing leading-edge solutions for mapping, inspection, line rating and engineering analysis to customers across around the world.

For more information, please visit: www.geodigital.com

Contact: Jim Smyth, jsmyth@geodigital.com, 289-674-0011

 

About EnerTech Capital

EnerTech Capital invests in companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million and has delivered over 30 exits. EnerTech Capital is currently investing out of its fourth fund and has offices in Philadelphia, Toronto, Montreal and Calgary.

For more information, please visit: www.enertechcapital.com

Contact: Wally Hunter, whunter@enertechcapital.com, 416-383-8563

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