- Australian tech entrepreneur Bevan Slattery has invested $2.5 million in massive 3D data specialist Pointerra (3DP)
- The news comes after Pointerra went into a trading halt on Monday ahead of the announcement
- Via a placement, Bevan has purchased 50 million 3DP shares for five cents each
- The funds will be used to accelerate the company’s global expansion in Australia and the U.S.
- Company shares are up 85.2 per cent and are trading for 10 cents each
Australian tech entrepreneur Bevan Slattery has invested $2.5 million in massive 3D data specialist Pointerra (3DP).
The news comes after Pointerra went into a trading halt on Monday ahead of the announcement.
Via a placement, Bevan has purchased 50 million 3DP shares for five cents each. Funds from the placement will be used to accelerate the company’s global expansion in Australia and the U.S.
Currently, Pointerra is focused on commercialising its unique 3D geospatial data technology. The technology solves problems in the digital asset management workflows and allows large 3D datasets to be used without the need for high-performance computing.
Bevan is excited to see the potential Pointerra has in the geospatial analytics.
“When you understand the exponential growth in geospatial data that is being captured by third party systems that in turn create these massive data lakes worldwide, combined with the enormous growth of cloud compute and machine learning, you realise that the geospatial analytics platforms that have been built from the ground up in the ‘new world’ will quickly surpass traditional methods of 3D geospatial analysis,” he said.
“After speaking with the management team and understanding our aligned vision, I am excited that Pointerra has the potential to be a world leader in this field and ultimately to help feed the geospatial systems behind industries including telecommunications, renewable energy and autonomous vehicles,” he added.
Company shares are up 85.2 per cent and are trading for 10 cents each at 1:37 pm AEST.