AAA Satellogic convinces Tencent in $27m series B

Satellogic convinces Tencent in $27m series B

US-based satellite data provider Satellogic closed a $27m series B round on Friday led by internet company Tencent and backed by venture capital funds Pitanga and CrunchFund and various undisclosed investors.

Founded in 2010, Satellogic has developed low-cost micro-satellites that are able to monitor surface areas at up to one metre of resolution. The close of the series B round followed the launch earlier this month of the company’s sixth satellite.

The micro-satellites are equipped with hyperspectral cameras and are particularly aimed at applications such agriculture, environmental and climate-change monitoring, mineralogical discovery and forestry management.

Tencent and Pitanga previously contributed an undisclosed amount to Satellogic’s series A round in 2015, investing alongside Valor Capital Group and Endeavor Catalyst.

Emiliano Kargieman, CEO of Satellogic, said: “The combination of our capabilities for low-cost data capture in high-resolution and the hyperspectral domain are a powerful enabler for our own data science teams, in addition for those of our partners and ultimately allow us to provide more value to end customers.

“We are focused on unlocking the value of live geo-information analytics to improve daily decision-making for every branch of government and for every corporation, small company, or person on the planet.”

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