[Funding alert] Liverpool-based MGISS Secures £600K in Funding

Northumbrian Water Group, Wales and West Utilities, and Severn Trent Water are among the company's current clients. Construction companies Galliford Try and groups like the National Trust, which maps heritage sites using the company's systems, and the South West Peatland Partnership, which tracks conservation efforts, are also clients.

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NPIF is a component of the Northern Powerhouse Investment Fund and is overseen by Mercia. In order to help the company's geospatial expert CEO, Mike Darracott, launch a consulting firm, Mercia initially supported him in 2014 through the North West Fund for Venture Capital, another of its managed investments.

Mike Darracott said: “Supply interruptions cost utility companies billions of pounds each year, not only in trying to repair and restore supplies but also in paying compensation to customers. Construction work is a key cause of disruption, and the situation will likely worsen if planning laws are relaxed. Our systems help them make the most of the available data and proactively identify and tackle potential hazards. The new system will be the most powerful to date and could help companies to dramatically reduce downtime, regulatory fines and their environmental impact.”

Rob Hornby of Mercia said: “MGISS has successfully pivoted from being a consultancy firm to a software business and achieved impressive growth in recent years. The company addresses a key concern for utility providers. We are pleased to support the development of this new solution which we believe will have a huge global market.”

Keira Shepperson, Director at British Business Bank, said: “Investment into technology is crucial in creating a hub of innovation and excellence across the North. Working with the European Space Agency, the work of MGISS goes beyond its Liverpool base, demonstrating the reach of NPIF beyond just its geography. We look forward to supporting the business as it continues to grow.”

With its headquarters in Liverpool, MGISS has 14 employees. Because of the financing, it anticipates adding 11 new jobs in the upcoming year. After three years of growth that saw a rise in yearly recurring revenue of more than 300 percent, the most recent investment was made.

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Additionally, the cash will help MGISS and the European Space Agency (ESA) construct a new and more potent system. It will construct a "eye in the sky" using high-resolution satellite photos from the ESA. This will allow utility companies all over the world to monitor important places and reduce carbon emissions by doing away with or minimizing the need for helicopter "flyovers."

About MGISS

MGISS provides unbiased advice to organizations on how to employ technology, geospatial data, and the digital transformation of field operations to go from asset location to insight. Multi-award-winning MGISS advises businesses on how to leverage geospatial data and technology to support strategic asset management approaches.

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