Synspective, a Japanese SAR satellite data and solutions provider, has just announced a raise of $100M (11.9B yen) including a Series B funding round. This puts Synspective’s total funding value at $200M (22.8B yen) since its inception.
This latest funding was led by Sompo Japan Insurance Inc., Nomura SPARX Investment, Inc., and Pavilion Capital Pte. Ltd. (Singapore) among others, as well as loans from Japan’s banks The Shoko Chukin Bank and MUFG Bank, Ltd.
Radar satellites, an increasing need
The application of radar in space has been concentrated on observation of the Earth and the other planets. Owing to their ability to deliver rich information, they have for instance been applied in geological disaster monitoring, air transport monitoring, maritime surveillance, meteorology and pollution detection, just to name a few.
Since these activities involve the analysis and visualization of a staggering amount of data, including observational, simulation, and hybrid forms. Satellite data has been key to delivering a lot of observational data as well as comparing real-time data with models, testing hypotheses.
Providing satellite solutions
Synspective Inc. is developing and operating high-frequency, high-resolution SAR (Synthetic Aperture Radar) satellites to provide data analytics and solution services.
The company employs a wide array of SAR tech to deliver its services such as monitoring land displacement with millimetric accuracy through the use of InSAR (Interferometric SAR). The company also applies all-weather ground observation, to quickly evaluate flooding areas and relay information.
While other services are yet to roll out, they include natural disaster damage assessment, offshore wind assessment, forestry inventory management, facilities monitoring, geospatial monitoring and solar potential area mapping.
“Due to the recent effects of climate change, extreme phenomena in weather, climate, and precipitation have increased all over the world and the frequency and severity of storm and flood damage will continue to increase. Synspective will be directly involved in disaster mitigation by developing and operating SAR satellites and providing solution services that utilize SAR data. We expect that the company will become a “social information infrastructure” to support sustainable living in the future.” Mr. CHOUN Chee Kong, Pavilion Capital Japan head said.
Synspective and growth
Founded in 2018 by Motoyuki Arai and Seiko Shirasaka, Synspective provides solutions for customers’ challenges with utilizing and integrating data from “SAR” satellite constellations.
Synspective aims to establish a constellation of 30 SAR satellites around 2026, that enable wide-area, high-frequency earth observation. These satellites will apply the results of the ImPACT program (led by the Government of Japan, Cabinet Office) and are expected to provide data and solutions to government and commercial outfits.
Synspective will use the new capital for the development, manufacturing, launch and operation of its SAR satellites, prepare mass production facilities, develop satellite data solutions, and expand globally with the aim of further business growth.
“We are very grateful for the opportunity to welcome new investors and collaborative partners to expand our business more strongly and globally. Taking the fact that we were able to raise funds beyond the series A funding round is a great expectation and trust from our investors, partners as well as the public. We will further accelerate the expansion of a thirty SAR satellite constellation and enhance our data analysis technology to realize a “learning world” for a sustainable future.” remarked Dr. Motoyuki Arai, Synspective founder and CEO in light of this news.