UK subsea services company Rovco is set to launch its live 3D underwater survey system and triple its workforce after securing a £1.2m investment.
The company has received the backing from UK-based investment houses Green Angel Syndicate, Cambridge Angels and Bristol Private Equity Club.
The funds will allow Rovco to bring its latest inspection technology to the global energy market, including the offshore wind industry, and grow its headcount to 30 employees from 10 within the next year, the company said.
The new technology, designed to cut the cost of underwater inspections and maintenance using real-time 3D vision and AI data analysis, will begin field testing this month.
Rovco also plans to add three new remote operated vehicles to its fleet within the next six months.
Rovco founder and chief executive Brian Allen said: “We have entered the second quarter of 2018 with a strong pipeline of sales and we are extremely confident in our ability to grow our client base both in the UK and overseas.
“This latest financial backing will not only allow us to accelerate our growth plans, but it will see us work alongside some of the UK’s most well-established and knowledgeable business leaders, whose industry experience will be extremely valuable in the next stage of our development.”
Image: Rovco
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By EBS