Satellogic raises $50M to develop the world’s first scalable earth observation platform

Satellogic raises $50M to develop the world’s first scalable earth observation platform
Satellogic raises $50M to develop the world’s first scalable earth observation platform

Satellogic raises $50M to develop the world’s first scalable earth observation platform

Satellogic announced todat that it has raised $50 million to meet market demands and accelerate growth. Market Demand Fuels Company’s Growth. Existing investors, including Tencent and Pitanga, contributed about 40% of the $50 million in newly announced funding,  with participation from some existing investors.

Today, less than a third of the countries in the world have their own satellites orbiting the Earth, limiting their ability to capture data about their policy implementation and infrastructure. However, the landscape is changing. One recent report valued the geospatial analytics market at $19.59B in 2018 and predicted that it will reach a value of $29.28B by 2024. In this report, government interest was noted as a key driver of growth. Enter Satellogic, the first company to develop a scalable earth observation platform with the ability to remap the entire planet at both high-frequency and high-resolution.

The company’s low-Earth-orbit satellite constellation, platform, and data science teams work together to deliver high-frequency, high resolution, end-to-end solutions at the right price point. Satellogic aims to democratize access to space-based services by dramatically reducing the barriers to obtain real-time satellite data.

Founded in 2010 by Emiliano Kargieman, the Palo Alto, California-based Satellogic is a geospatial startup and the first vertically integrated geospatial analytics company. The company’s low-Earth-orbit satellite constellation, platform, and data science teams work together to deliver high-frequency, high resolution, end-to-end solutions at the right price point. Satellogic aims to democratize access to space-based services by dramatically reducing the barriers to obtain real-time satellite data. Satellogic currently has 170 employees and offices in Buenos Aires, Córdoba, Barcelona, Montevideo, Tel Aviv, Beijing, Charlotte and Miami.

New investor, IDB Lab, sees an opportunity for Satellogic to have a meaningful impact in Latin America and the Caribbean in particular. “At IDB Lab, our mission is to leverage innovation towards inclusion in Latin American and the Caribbean,” said Tomás Lopes Teixeira, Senior Investment Officer at IDB Lab.

Pitanga, also based in the Latin American region, invests in innovative companies with high growth potential and is among the existing investors contributing to Satellogic’s newly announced funding.

Satellogic recently closed a $38M agreement with ABDAS, a data science company established under the technical support of the Institute of Remote Sensing and Digital Earth. The agreement gives ABDAS access to a Dedicated Satellite Constellation and geospatial analytics that will provide them with multispectral imagery for monthly remapping of sites they define within their departmental territory and derive insights through their in-house data science capabilities.

Through the partnership, ABDAS is able to leverage their constellation to strengthen and support key policy decisions in the province, with no capital outlay and no technical or operational risks.

“Satellogic is experiencing significant commercial momentum, and we’re grateful to have investors that want to fuel that growth and help us service the demand for our Dedicated Satellite Constellation (DSC) and Dedicated Satellite Services (DSS) solutions,” said Satellogic Founder and CEO, Emiliano Kargieman.