SAN FRANCISCO – German thermal satellite data startup constellr raised 17 million euros ($18.93) in seed funding.
Karista led the round. Participants included Einstein Industries Ventures, FTTF, Lakestar, Vsquared, Amathaon Capital, Natural Ventures, OHB Ventures and EIT Food.
With the newest funding, announced July 20, constellr plans to speed up deployment of its shoebox-size thermal imagery satellites and meet growing global demand.
Constellr’s first thermal infrared imaging sensor traveled to the International Space Station in 2022 on a Northrop Grumman resupply mission.
Thermal Imagery Constellation
The primary satellite in constellr’s operational constellation are scheduled to launch in 2024.
“We only need 4 satellites to deliver day by day imagery to any field on the globe,” Max Gulde, constellr CEO and co-founder, told in a recent interview. “Then, it’s really a matter of market demand.”
Relatively than specializing in imagery resolution, constellr is intent on providing accurate data.
For agricultural applications, “it’s really in regards to the repeatability and the sensitivity and the precision of the measurement,” Gulde said.
Government Grants
Constellr was one in every of three corporations awarded 5 million euro contracts from the European Commission and the European Space Agency to produce thermal data to enrich observations collected through the Copernicus Earth-observation program.
Prior to the recent fundraising announcement, constellr had raised about $14 million in enterprise capital and received a further $14 million in grants.
“We consider constellr’s approach to constructing essentially the most precise layer of thermal imaging data will speed up a paradigm shift in how the worldwide agricultural sector adapts to the impacts of an evolving climate,” Gulde said in an announcement. “Having the stamp of approval from each Karista, who will drive our French market entry, and Einstein, with their deep space industry expertise, alongside our existing top-tier investor base, is a large step in validating our solution.”
In April, constellr acquired ScanWorld, a Belgian hyperspectral satellite imagery and analytics startup.
“Investing in constellr is a singular opportunity for us to be on the forefront of a [space technology] revolution that deeply transforms terrestrial industries, including agriculture and climate-related concerns,” Michael Thomas, Karista investment director, said in an announcement. “Because of this extra fundraising and its unique management team execution capabilities, constellr will reinforce its leading position in Europe and speed up and expand its business footprint globally, especially addressing substantial market demand from the US.”