US-based geospatial software technology provider Orbital Insight yesterday closed a $50m series D round backed by corporate venturing units of oil and gas company Chevron and technology conglomerate Alphabet.
Broadcaster Sky Perfect JSAT also contributed to the round, which was co-led by Sequoia Capital and Clearvision Ventures.
Investment bank Goldman Sachs, Invicta Growth, Bunge Ventures, Tech Pioneers Fund, Geodesic Capital, Intellectus Partners and Lux Capital filled out the round. Chevron and Alphabet joined the round through Chevron Technology Ventures and GV, respectively.
Orbital Insight uses artificial intelligence and computer vision technologies to analyse geospatial data gathered from a variety of sources, such as satellite imagery and vessel traffic data, enabling clients to monitor geopolitical and economic activities.
Applications for the software include supply chain monitoring, real estate analysis, infrastructure mapping and defence.
The company, which has raised more than $128m in capital to date, will use the latest cash injection to grow its market share by driving product innovation and expanding its software.
Orbital Insight previously received $50m in a series C round in 2017 backed by GV and CME Ventures, the corporate venturing unit of trading exchange operator CME Group, as well as trading group Itochu.
Sequoia led that round, also investing together with included Envision Ventures, Balyasny Asset Management, Geodesic Capital, Intellectus Partners and Lux Capital.
GV led a $20m series B round in 2016, taking part alongside Bloomberg Beta – a venture capital firm solely backed by media group Bloomberg – as well as CME Ventures, Sequoia, Lux Capital and In-Q-Tel, the VC arm of the US intelligence community.
Sequoia had already led an $8.7m series A round in 2015 that also featured GV, Bloomberg Beta, Lux Capital and Citizen VC.
Sky Perfect JSAT was identified as a returning investor for the latest round, though details about its earlier involvement could not be ascertained.
