Laser-Mapping Company Continues Growth a Year After Its Exit
November 09, 2023
Frontier Development Capital explores one of its supported company’s successes since receiving funding from FDC and its continued development since exiting.
Frontier Development Capital (FDC) has supported many companies since its launch in 2016, providing investment from £1m to £20m to back a range of transactions. FDCs mission is to be at the frontier of the funding gap, providing debt funding opportunities with flexible terms to support business growth. Offering more than just money, FDC has supported over 100 businesses supported since its launch, and committed circa £240m to help SME businesses achieve their growth plans.
GeoSLAM is just one of the companies FDC has supported with funding that has achieved remarkable success. GeoSLAM is best known for its range of hand-held laser 3D mapping devices and accompanying software systems that are used across the globe to survey complex environments such as mines, tunnels, and caves. The company aims to expand its research and development capabilities to rapidly build and bring to market new sensing technologies and geospatial analytics platforms.
In 2018, the Nottingham-based mapping company received £1.4m from to build on its merger with 3D Laser Mapping and to further evolve its 3D mobile mapping and monitoring technology. The funding facilitated their continued development of new and existing scalable products and solutions, such as their next generation of hand-held scanners, the ZEB-HORIZON, which is capable of rapidly capturing intricate indoor and outdoor measurements from up to 100m away.
In August 2022, NASDAQ quoted, FARO Technologies Inc. acquired GeoSLAM, providing an exit for FDC. FARO Technologies is a global leader in 3D measurement, imaging, and realisation solutions, developing and manufacturing leading-edge solutions that enable high-precision 3D capture, measurement and analysis across numerous industries. They provide industry-leading technology solutions that allow customers to digitise their world and use that data to make smarter decisions faster. FARO is a global company with over 1,400 employees and offices across over 25 countries.
The acquisition expects GeoSLAM to significantly expand and accelerate FARO’s market growth opportunity in the mobile scanning space. This venture represents GeoSLAM’s next step in the business's growth and the establishment of mobile mapping as the driver for growth.
The FDC Debt Fund helps to support established mid-market SME businesses across the UK with funding from £1m to £7.5m for growth capital, acquisitions, MBOs/MBIs, BIMBOs, shareholder transactions and property development. FDC is dedicated to its investee businesses, providing more than just money to help businesses achieve their growth plans.