Highway Data Systems (HDS), a Glasgow-based technology company automating quality assurance for the road construction and asphalt industries, has closed a £1.25 million investment round as it sets its sights on accelerating growth across the UK and United States.
The funding, delivered through the Investment Fund for Scotland — managed by Maven Capital Partners and backed by the British Business Bank — will drive the company’s next growth phase, supporting new contract wins, product development, and an expanding US operation that is quickly becoming a significant part of the business.
A Business Built on Precision at Scale
HDS has developed a proprietary combination of hardware, embedded electronics and software that replaces manual, labour-intensive testing processes on road construction sites. Its QA solutions span the entire asphalt lifecycle — production, haulage and laydown — and are trusted by major industry names including Eurovia, Holcim and Tarmac.
That blue-chip client base is a strong indicator of HDS’s growth credentials. The company has carved out a differentiated position in both the UK and US markets, with demand accelerating as top-down regulatory changes and heightened health and safety requirements push major contractors to remove technicians from hazardous worksites.
Joe Charlesworth, Managing Director of HDS, said: “We are very grateful to the British Business Bank and Maven for the investment in our company at an exciting point in our growth journey. Data is only as good as its accuracy, and as a technology partner for major infrastructure projects we strive for engineering-grade precision. This backing will allow us to invest in our product development as we enhance our automated digital solutions for both the UK and international markets.”
Riding the Automation Wave
The wider market shift toward automated processes is a key growth driver for HDS. With safety regulations tightening and labour costs rising, the business is well placed to scale quickly — both by deepening relationships with existing clients and expanding its reach in the US, where its customer base is growing steadily.
Rob Stevenson, Investment Manager at Maven, said: “HDS has evidenced strong growth to date, developing a highly rated suite of products for customers across both roadside and plant, in both the UK and US. Joe and his team have significant experience and knowledge within the sector, and with the continuous market shift to automated processes there is a strong growth opportunity. We’re delighted to be deploying the Greater Glasgow Innovation Cluster initiative for the British Business Bank in Scotland, and look forward to supporting more companies across the country.”
Milestone Deal for Glasgow Innovation
Beyond HDS’s own growth story, the deal carries wider significance. The company becomes the first to receive investment through the newly launched Greater Glasgow Innovation Cluster — part of a £100 million strengthening of the UK’s Nations and Regions Investment Funds — which aims to connect high-growth businesses with investors across key UK regions.
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Sarah Newbould, Senior Investment Manager at Nations & Regions Investment Funds, the British Business Bank, said: “The Investment Fund for Scotland was established to support ambitious, high growth Scottish businesses. HDS exemplifies this, combining innovation with clear international growth potential. As the first investment delivered through the Greater Glasgow Innovation Cluster, this funding demonstrates the Fund’s role in strengthening connections between investors and innovative businesses in the region.”
The £150 million Investment Fund for Scotland provides equity investment up to £5 million and loans from £25,000 for businesses operating across Scotland.
