Planet Labs, a US-based satellite imaging company backed by media company O’Reilly Media, closed a $118m series D round yesterday after securing a further $23m.
International Finance Corporation (IFC), the World Bank’s commercial investment arm, led the second tranche of the round, which followed a $95m first tranche raised in January this year.
The $70m equity portion of the first tranche was led by Data Collective, which participated alongside unnamed new and existing investors. Western Technology Investment supplied a $25m debt facility to make up that tranche.
Planet Labs provides frequently updated images of the earth from a network of satellites. It will have almost 100 of its satellites, known as Doves, in space, as of a launch scheduled to take place today.
The capital will be used to scale Planet Labs’ satellite constellation, as well as funding sales, and business and data product development. Planet Labs has now raised $183m altogether.
O’Reilly Alpha Tech Ventures (OATV), the corporate venturing arm of O’Reilly Media, took part in a $52m series B round in December 2013 that included Data Collective, Draper Fisher Jurvetson, Capricorn Investment Management, Founders Fund, First Round Capital, Innovation Endeavors, AME Cloud Ventures, Industry Ventures, Felicis Ventures, Lux Capital, Yuri Milner and Ray Rothrock.
Planet Labs had already raised $13m six months earlier from OATV, DFJ, Capricorn, Founders Fund, Innovation Endeavors, Data Collective and First Round.
– Image courtesy of Planet Labs