Technology and IP company ipernica (ASX:IPR) has announced that its subsidiary, NearMap, has to date booked $2.3 million in purchase orders from 28 customers for its PhotoMaps services.
The majority of these orders are expected to be renewed annually, NearMap said, and thus represent recurring revenue.
NearMap added that sales had accelerated over the last three months as the service received more exposure, with the company's sales prospect pipeline growing to $12 million from a previously reported $6.4 million.
NearMap provides aerial mapping services intended as a cheaper and closer-range alternative to satellite maps.
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