Planet Labs, the US-based satellite imaging company backed by media company O’Reilly Media, achieved the first close of the “majority” of a $70m series C round yesterday.
Venture capital fund Data Collective led the tranche, which was provided by undisclosed new and existing investors and raised alongside a $25m debt facility from Western Technology Investment.
Founded in 2010 as Cosmogia, Planet Labs has now launched 73 satellites into space that provide imagery and data to specialised customers. The latest two were launched earlier this month on a rocket owned by SpaceX, the space exploration company that just raised $1bn.
Planet Labs previously raised $52m from a December 2013 series B round featuring O’Reilly Alpha Tech Ventures (OATV), O’Reilly Media’s corporate venturing unit, as well as 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.
OATV also contributed to the company’s $13m series A round in June 2013, along with DFJ, Capricorn, Founders Fund, Innovation Endeavors, Data Collective and First Round.
– Photo courtesy of Planet Labs