OSL receives £3.5m follow-on investment for further growth
BGF’s latest investment into the counter-drone technologies business takes the total deployed to £11.5m.
BGF has invested a further £3.5 million into leading counter-drone technologies business Operational Solutions Limited (OSL), taking its total investment so far to £11.5 million.
The follow-on investment will allow OSL, which currently provides solutions to customers such as Heathrow Airport and Wembley Stadium, to continue with research and development, aid its expansion into international airports, and continue to grow in the sports and events market.
BGF’s latest investment comes after a highly successful year for the business. Over the course of the last 12 months, OSL has recruited a new COO, grown the team from 50 to 110 members of staff, increased revenue by 50% on the previous financial year, and began work to enhance fan safety at the home of English football, Wembley Stadium, through its drone alert service DAS™.
Mark Legh-Smith, CEO of OSL said: “2023 has seen yet another exciting period of growth for OSL. From expanding our team and our technical capabilities, to entering new and exciting markets, the solutions we can offer to organisations is garnering interest and demand from all around the world. As we continue to expand into new markets with unique and complex challenges, we remain committed to continual technological innovation. We’re excited to take this next step in our growth journey alongside BGF.”
Winners of the SME Creative Solutions Award at the Heathrow Supplier Awards 2023, OSL has this year continued to lead a consortium through Project HADO®, designed to dramatically accelerate the commercial adoption of autonomous drones in high intensity environments in the UK.
Liam Pursall, investor at BGF, said: “OSL’s growth and technological development since our initial investment in 2021 has been very impressive. As the drone industry continues to gather pace, the need for comprehensive counter-drone capabilities and accurate situational awareness is growing across multiple end markets.”
“Thanks to its leading technologies and expertise, OSL is at the forefront of this exciting new sector and its technology is key to unlocking the much anticipated Drone Revolution. We look forward to continuing our partnership with Mark and the rest of the OSL team and supporting the business as it continues to scale.”