Satellogic, a provider of earth observation solutions, has raised $27 million in Series B funding. Tencent led the round with participation from other investors that included CrunchFund and Pitanga.
June 23, 2017 – San Francisco – Satellogic™, the world leader in affordable, high-resolution earth observation, today announced it has closed a substantial $27M Series B funding round.
The closing of the series B round happened the same week as the launch into orbit, of the company’s sixth micro-satellite (the third in its high-resolution imaging constellation) on June 15th from Jiuquan, China.
Investors in this round include the renowned Chinese company Tencent® as the lead, backed up by São Paulo-based Pitanga™, CrunchFund™ and other investors.
Satellogic has created a uniquely low-cost micro-satellite platform with unparalleled capabilities, enabling for the first time affordable monitoring of the planet at one meter of resolution, and high-frequency hyper-spectral data solutions ideally suited for advanced geo-intelligence and other applications.
The one meter resolution payload in Satellogic’s satellites captures state-of-the-art high quality, high-resolution data at a small fraction of the cost of competing systems, enabling for the first time the affordable monitoring of human activity on the planet.
The hyperspectral camera, capable of 30 meter spatial resolution from orbit and with the ability to discern narrow spectral bands positioned with nanometric precision along the visible and near-infrared spectrum, is unmatched by any other commercial or scientific satellites currently in orbit.
Hyper-spectral imaging allows the advanced identification of both materials and molecular processes, and is particularly well-suited for agriculture, environmental and climate-change monitoring. Other applications of hyperspectral data include land use classification intelligence for industry and government planning as well as forecasting, mineralogical discovery and forestry management.
With the March 2017 de-commissioning of the NASA Hyperion bird, Satellogic is now the unique and sole supplier of high-resolution hyper-spectral imagery in the world.
“The combination of our capabilities for low-cost data capture in high-resolution and the hyperspectral domain are a powerful enabler for our own data science teams, in addition for those of our partners and ultimately allow us to provide more value to end customers,” said Emiliano Kargieman, CEO and founder of Satellogic.
“We are focused on unlocking the value of live geo-information analytics to improve daily decision-making for every branch of government and for every corporation, small company, or person on the planet. We are grateful to our funding partners for sharing this vision and working with us to create a worldwide positive impact.”
With offices in Barcelona, Buenos Aires, Montevideo, San Francisco and Tel Aviv, Satellogic is dedicated to enabling real-time geo-analytics of planet Earth through a constellation of proprietary micro-satellites offering high-resolution and hyperspectral data and an integrated data-science and analytics stack.