Glasgow-based tech startup iOpt has secured a £600,000 investment boost from its second seed funding round.

The fresh investment will enable the business to implement its ambitious scale-up plans, including the creation of six jobs over the next two years.

Lead investors include Mactaggart & Mickel Investments, while two other corporate investors include the Scottish Investment Bank (SIB) and a US-based global leader in IoT technologies.

iOpt has also sought out value-adding investors with expertise in the property, data and technology sectors.

Paul McAninch, managing director at Mactaggart & Mickel Investments, commented: “iOpt is an ingenious business innovation with considerable potential for growth, whilst helping to drive welcomed sustainability improvements within the housing and property sectors.”

Kerry Sharp, director of SIB, added: “I’m pleased SIB has invested in iOpt alongside Mactaggart & Mickel Investments. The broad range of expertise, together with the funds the investors bring, will enable iOpt to realise its scale-up ambitions over the coming years.”

Established in 2016, iOpt uses data analytics, high-tech sensors and IoT technology to allow owners and managers of large rental property portfolios monitor assets’ internal environment.

Using machine learning, the company predicts when and where issues, such as mould growth, will arise and recommends preventative measures. Through these methods, clients can prevent costly repair bills, reduce tenant health risks and vastly reduces the frequency of property visits.

The firm also helps identify and support potentially vulnerable tenants who may be struggling with fuel poverty.

Dane Ralston, founder and managing director of iOpt, said the investment will enable the company to “fully realise the potential of our product and the difference it can make” for companies and organisations it works with.

He said: “We’re absolutely delighted to receive this funding which will allow us to scale up to the next stage. After three years of being in business, we’re able to fully realise the potential of our product and the difference it can make to asset managers in the running and maintenance of properties; significantly reducing their maintenance bills and extending the life of their assets.

“Ultimately, iOpt gives asset managers the visibility to make smart, informed operational and strategic business decisions. We’re also very excited that iOpt has the ability to aid vulnerable tenants who may be struggling with fuel poverty.”