GeoDigital Secures Equity Funding

GeoDigital announced today that they have secured a new round of equity funding. In the press release they do not disclose the amount of the investment – $25 million, or the fact that General Motors is one of their new investors. This information was published, however, by Dow Jones’ Venturewire.

In a brief interview with Co-CEO Alastair Jenkins I learned that over the next two to three years part of the funding will be used to create a detailed, engineering grade, LiDAR-derived highway and urban core database for the U.S. and Canada. GeoDigital will own this valuable data which I imagine would be of interest to a number of groups – builders of autonomous vehicles and transportation agencies come to mind. In addition the funding will be used to develop software to further automate LiDAR data processing workflows.

Over the next two to three years the plan is to build and expand upon the current revenues from providing software and services to utilities to create a larger and more balanced business model that leverages the above mentioned database by providing proprietary software and LiDAR data as a web -based service to a variety of professional and engineering markets‎.

I will keep you informed of further developments.

 

This entry was posted in 3D Modeling, airborne LiDAR, Business Development. Bookmark the permalink.

One Response to GeoDigital Secures Equity Funding

  1. Eric Andelin says:

    Congrats to Geo-digital and GM. However, it is highly unlikely that a High Accuracy Mobile LiDAR database will be used for automated vehicles. Automated vehicles need real-time data to make real time decisions this is why Google has installed LiDAR on it’s driver-less vehicles. Its also why using your phone for in car Navigation is much better than an auto manufacturer installed navigation system that is probably out of date by 6 months to a year before it’s installed.

    Real time is paramount for driver-less vehicles which need to know where they are at, in relation to whats around them (traffic and pedestrians) at the instant they are there. It is much more likely all vehicles will have some form of LiDAR on board rather than relying on an out of date database. In fact we are already seeing manufacturers install machine controlled (stereo) vision from cameras for collision detection.

    Freshness date is they key to data and it is paramount for real time driver-less vehicles.

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