A Coleshill company which provides information and intelligence via aerial and satellite imagery has secured investment of more than £300,000 from venture capital specialist Midven.

Geospatial Insight uses analysis of imaging data in a bid to give companies an "information edge" over their competitors, such as providing clients in the finance and insurance sectors with research in areas such as risk analysis, investment evaluation and event impact assessment.

The investment of £302,000 through Midven's Exceed Fund will help Geospatial Insight recruit new staff and provide development capital to exploit further opportunities in their sector.

Managing director David Fox said: "We are at a stage where we need to recruit additional, experienced personnel to help grow the market and carry out the extra work as the business grows.

"The areas in which we operate, such as the finance and insurance sectors, are both potentially very large markets for us, and this investment will help us develop the opportunities that we have identified in what is potentially a very fruitful pipeline."

John Slaughter, investment executive at Midven, said: "Geospatial Insight is Europe's only provider of this sort of intelligence and boasts a strong management team with a wealth of experience in the geospatial industry.

"The recruitment of additional technical expertise will allow the company to take on several projects at once and move efficiency on to new levels.

"A number of new business opportunities have been clearly identified and they are ideally placed, with this investment, to exploit these."