The financing will be used to fund Geospatial Insight's global expansion including further investment in its market-leading technology and new information product streams.

This follows an initial investment by Midven, the Birmingham based venture capital company, through the Exceed Partnership Fund in December 2014.

Using a combination of machine learning, big data analytics and based upon an in-depth knowledge of geospatial techniques, Geospatial Insight provides deep-dive analytics in a range of sectors including financial, trading markets and insurance.

This specialist skillset puts Geospatial Insight at the forefront of the explosion of geospatial data and machine learning development in order to rapidly deliver radically new insights into key events and trends around the world.

Rafael Aldon, Director at VenturesOne Asia, will join Geospatial Insights’ board of directors.

He said today: "As venture investors, we see a lot of tech companies, and we were hugely impressed by Geospatial Insights’ technical capability and customer-centric approach."

"Insight accuracy and timeliness are critical buying factors for customers who are now discovering the game-changing impact visual intelligence can play. In this field, Geospatial Insight is second to none, and we're excited to be working together to create a global market leader."

David Fox, CEO of Geospatial Insight said: "With a presence in The Netherlands and Singapore, VenturesOne is the ideal partner as we continue to scale our business globally. We're excited to have a partner on board that not only provides us with growth capital, but also access to strategic connections in our core markets, such as insurance and financial services both in Europe and Asia." Beyond intelligence for improved corporate decision-making, Geospatial Insight can empower governments and policy makers with actionable data on some of mankind’s most pressing global issues.

These include the prediction of crop yields to combat food shortages in the developing world, tracking industrial and agricultural greenhouse gas emissions and illegal deforestation to enforce laws designed to combat the acceleration of climate change.