At a time when SpaceX, led by Elon Musk, and Blue Origin, owned by Amazon, continue to make significant strides in the aerospace industry, there is another noteworthy player emerging from the UK. Satellite Vu, a London-based company, is poised to bring about groundbreaking advancements as it functions as Earth’s thermometer from space.
Now, the startup has picked up £13 million in additional funding. The Series A2 round was led by existing investor Molten Ventures, a London investment group, which backed Zaptic and Riverlane. Also, previous backers, including Previous backers of the startup include Lockheed-Martin, London-based Seraphim Space Investment Trust, and Earth Science Foundation, participated in the round.
As per the company, the latest funding round was secured at a premium to its previous financing valuation. Satellite Vu will use the fresh investment to accelerate the provision of its services to clients.
In addition to the investment, George Chalmers of Molten Ventures joined the Satellute Vu board.
“This funding round puts us in a strong position to hit our commercialisation goals over the next 12 months and build the foundations to enable rapid scale-up post-Series B,” said Satellite Vu CFO Camilla Taylor. “We are proud to have such meaningful support from our existing investors – it shows that we are on the right track to both to building an economically sustainable business and tackling the climate crisis.”
Patrick McCall, a venture partner at Seraphim Space and SatVu director, said: “In these extraordinary times of immense technological progress, Satellite Vu stands out as a trailblazing commercial enterprise at the forefront of harnessing space and data to revolutionise our approach to major climate change issues.”
Develops the world’s thermometer!
Satellite Vu was founded by Anthony Baker and Tobias Reinicke in 2016 in London to address global challenges through satellite technology. Using miniaturised satellites, the UK company collects temperature data about the natural and built environments day and night.
Satellite Vu’s primary objective is to provide real-time temperature monitoring of any building across the globe from space. By doing so, the company not only offers valuable insights into economic activity, energy efficiency, and carbon footprint but also ensures effective surveillance of defense and intelligence operations as well as industrial activity.
Satellite Vu serves customers in sectors such as built environment, defence and intelligence, and industrials. It has developed a thermal monitoring satellite dubbed ‘the world’s thermometer’ in partnership with Surrey Satellite Technology. This satellite’s launch is scheduled to take place next month, using SpaceX, Elon Musk’s commercial space venture.