Scottish tech firm Earth Blox has secured £1.5m funding from Archangels to expand its global reach and further develop its no-code Earth Observation (EO) cloud based SaaS. 

Earth Blox enables users to create customised insights from satellite and geospatial data in a straightforward way to allow companies and organisations to make informed decisions based on powerful insights into the world and how it is changing. Ordinarily, harnessing satellite imaging data requires technical coding capabilities, but Earth Blox’s platform offers access to Google Earth Engine’s petabytes of planetary scale data with an easy-to-use ‘drag and drop’ interface. 

The company’s no-code technology is designed to meet the growing need of a wide range of sectors, businesses and users to quickly and easily access earth observation insights as part of strategic planning, monitoring and reporting. With net zero and ESG key drivers, the EO market for value-added services, like Earth Blox, is forecast to double in the ten years from £1.86bn in 2021 to £3.97bn by 2031.

Companies from across the energy, insurance, and environmental sectors, as well as some international NGOs use Earth Blox to inform critical decision making around climate and security risks, environmental degradation, and adaptation to climate change.

The £1.5 million funding was raised by Archangels, the world’s longest running business angel investment syndicate, which specialises in supporting emerging and ambitious Scottish SMEs in the life sciences and technology sectors. This seed round will allow Earth Blox to scale its product, to increase the volume of data sources, and to expand into new markets including, agriculture, urban development, finance for asset management, and ESG. 

Already marketised and with major global customers, Earth Blox is one of the leading companies in Scotland’s burgeoning space, data and environmental tech sectors. Customers include Shell Nature Based Solutions, the United Nations, Globe Underwriting, and ADM Capital Foundation. 

Genevieve Patenaude, CEO at Earth Blox, said: “We are very pleased to secure this funding from Archangels and join a strong portfolio of businesses in the life sciences and tech sectors. Investment into innovative businesses like ours is vital to growth in all areas, from customer acquisition to building a great team. This investment will help us develop Earth Blox as a scalable SaaS and get the power of Earth observation insights into the hands of a range of users around the world.” 

Niki McKenzie, Joint Managing Director at Archangels, said: “Earth Blox is pioneering the way companies and organisations can access and use satellite data to make better business decisions about the world and how it’s changing.

“Based in Scotland but with global ambitions, Earth Blox aligns perfectly with our aim of supporting Scotland’s best early-stage businesses with high growth potential. We look forward to supporting Genevieve and her team on this next step of the journey to further develop the product and open up new markets.” 

Founded in 1992, Archangels is a leading business angel syndicate investing in early-stage Scottish life sciences and technology companies. 

Archangels comprises around 120 members and a five strong full time executive team. In 2021, the syndicate invested £11.8m to reach a total of £23.6m including co-investment from Scottish Government agencies and other partners. There are currently 21 companies within the portfolio.

For further information on Archangels, please visit: https://archangelsonline.com/  

For further information on Earth Blox, please visit: https://www.earthblox.io/ 

ENDS

Issued by Frame on behalf of Archangels. 

For further information, please contact: 

[email protected] / 07387 090 070

[email protected] / 07703 987 098

About Archangels 

Current members of Archangels Board are: 

Ian MacLeod chairs the Archangels board. He is an experienced financial analyst, specialising in technology and telecoms at companies including Capel Cure Myers, NatWest Markets, and Jeffries. Latterly, he moved into fund management with 360 Asset Managers and then Accessible Clean Energy. 

Eric Young is a former chairman of Archangels, serving from 2014-2022. He recently retired from Eric Young and Co, the commercial property consultancy that he founded in 1983 and has joined Orinsen as Chairman with five former colleagues.

Tim Allan a founder and director of Motor Fuel Group, the largest independent fuel retailer in the UK. Private equity and property entrepreneur with many philanthropic interests including the Chair of the V&A Dundee. 

Maureen Kinsler worked in the tech sector for over 25 years as a Patent Attorney at the global IP firm, Marks & Clerk (M&C), where she has been a Partner since 2004 and recently retired as Chair of their International Business

Mike MacPhee retired Partner at Baillie Gifford and currently chairs the Baillie Gifford European Growth trust plc and sits on the R&A‘s global Golf Development Group.

Andrew Sealey CEO of Campbell Lutyens, a global private capital advisory firm.