The recently launched startup provides location-based analysis to businesses
The firm aims to use spatial reasoning technology to provide location analysis to clients to give a clear understanding of a region before launching a venture there.
Whether building a new business, expanding an existing one, planning investments or construction projects, EvaluateLocate claims its technology can offer user-defined analysis ahead of decision making.
Its new app rates locations in the UK based on more than a 100 metrics, developed in partnership with organisations in real estate, infrastructure, finance, retail and government.
“We believe every decision maker should have access to location insight on demand. This investment brings that closer and accelerates our product pipeline,” said EvaluateLocate chief executive Adam Kirby.
“We are addressing the growing need for precise and constantly updated location intelligence. The UK market alone is huge, while globally this is already a hundred billion dollar market.
“Our unique technical architecture enables high-resolution, predictive location intelligence at scale in seconds.”
The funding came from a handful of angels via the Seed Enterprise Investment Scheme (SEIS).
