A submarine technology company has received a further £ 400,000 investment from Bristol Private Equity Club as part of a larger £ 5 million financing round led by Foresight Williams Technology EIS Fund.
Rovco was founded in 2015 and invests heavily in the development of an artificial intelligence-driven data platform and live 3D vision systems for undersea robotics.
The new funds will be used to support Rovco & # 39; s international expansion and continuous development of its technology.
Bristol Private Equity Club has since 2018 invested a total of £ 930,000 in Rovco.
"Bristol has always been a desirable location for both people and businesses, and over the past decade it has built a reputation as one of the best locations outside London for technology companies to establish," said Jerry Barnes, CEO and founder of Bristol Private Equity Club.
"As an organization, BPEC is focused on investing in those companies that with our support can scale up quickly and continue to generate employment, prosperity and other opportunities here in Bristol."
Brian Allen, founder and CEO of Rovco, added: "Rovco is an ever-growing and innovative organization. We have seen incredible success over the past year and this additional investment gives us the opportunity to continue our quest to deliver of state-of-the-art technology for our given markets and enable us to invest in our team. "