SenSat raises $10 million to digitise infrastructure and support sustainable development - Tech.eu

UK-based SenSat has raised a $10 million Series A round to further develop its AI mapping technology with an eye on digitising new markets and promoting sustainability at the same time. The round was led by Tencent, with participation from Sistema Venture Capital. The primary (or initial) market for SenSat's Mapp product is infrastructure, one of the least digitised sectors in the global economy. Inefficiencies in infrastructure not only hinder social function and economic growth, but also contribute to waste and environmental damage. Harry Atkinson, co-founder and Chief Data Officer of SenSat explained: "Infrastructure is the only sector to have had a 0% net productivity increase since the 1960s, with a history of inefficiencies in doing business, contributing to a staggering 61% of total UK waste. The result is an estimated $5.2 trillion direct economic loss per year. Knowing this, we see a huge opportunity in allowing computers and AI to analyse the real world in order to help us grow more sustainably."