GeoVS, a company specialising in simulating underwater environments, has secured an investment of £250,000 from Finance Wales.

GeoVS, a company specialising in simulating underwater environments, has secured an investment of £250,000 from Finance Wales.

The money will help the university spin-out continue developing its technology, which has applications in underwater planning, maritime navigation and vessel traffic management.

Alastair MacDonald, chairman and managing director of GeoVS, says he expects the company to be ‘trading successfully by October’. It already has ‘strong links with potential customers’, he adds.

The Cardiff-based business was spun out of the University of Glamorgan last year by Christopher Gold and Rafal Goralski, experts in 3D geovisualisation software.

Finance Wales, which is backed by the Welsh Assembly, has invested £5.75 million in 30 early-stage ventures since the beginning of 2009.