Ursa Space, a New York-based satellite intelligence company, announced that it has secured a $16M in a Series C funding round led by Dorilton Ventures. Existing investors, including Razor’s Edge Ventures, RRE Ventures, Paladin Capital Group, participated.
How will the funding be used?
The US company will use the funds to respond to a significant increase in customer demand for automated, scalable, analysis-ready satellite data.
Additionally, the company plans to expand its field sales organisation to support newly emerging markets for earth observation data such as supply chain optimisation, logistics, and insurance.
“Ursa Space was founded seven years ago with the goal of making satellite data more accessible to a broad range of people,” says Adam Maher, co-founder, and CEO.
“I’m proud to say we’ve made tremendous progress toward this goal by eliminating many of the barriers that people faced when trying to get answers from satellite imagery. In its place, we’re building the infrastructure that enables a community of developers to form and create new services that improve understanding of what’s happening on earth,” he adds.
Offers satellite data
Currently, most organisations, even the sophisticated ones struggle to buy and use earth observation data. Here’s where Ursa Space fills the gap.
Founded by Adam Maher, Derek Edinger, and Julie Baker, Ursa Space provides business and government access to on-demand analytic solutions.
The company does this by coordinating purchases from hundred of satellites, giving customers access to multiple image resolutions, frequencies, and price points to suit their needs.
With the help of its radar satellite network and data fusion expertise, Ursa Space detects real-time changes in the physical world to expand transparency.
The company’s subscription and custom services enable customers to access satellite imagery and analytic results without any limitations.
Currently, the US company manages the world’s largest Virtual Constellation of satellite imagery from the most trusted SAR, optical, and RF data vendors around the globe, containing over 10M SAR (Synthetic Aperture Radar) images alone.
Ursa Space says satellite-based SAR offers significant advantages over other forms of imagery due to its ability to collect information in all weather conditions.
Last month, Satellogic Inc, a provider of high-resolution satellite imagery joined Ursa Space’s Virtual Constellation and Partner Network.
Last year, in November, Ursa Space joined the Amazon Web Services (AWS) Partner Network (APN) to reduce the time from customer requests to delivery of results, as well as to improve customer access to its offerings.
Dorilton is a private investment firm that invests in businesses across a range of industry sectors, working in partnership with management to grow value over the long term.
“Ursa Space’s ability to generate analysis-ready data quickly and at reduced cost has attracted demand from leading space industry players and end-users,” said Daniel Freeman of Dorilton Ventures. “This funding will enable the company to extend its technical lead whilst growing its sales team to help organizations across more sectors take advantage of earth observation data. Dorilton Ventures is incredibly proud to back Ursa Space.”
Razor’s Edge is a multi-stage venture capital firm that invests in technology companies solving significant challenges in national security and high-growth commercial markets.
Paladin Capital Group focuses on companies with technologies, products, and services that meet the challenging global cyber security and digital infrastructure resilience needs.
RRE Ventures is an early-stage venture capital firm that partners with entrepreneurs who seek to disrupt and transform industries.