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Capella Space raises $ 97 million to deploy satellite data products

Capella-3 satellite reflector in orbit.

Capella Space

Capella Space-based satellite imaging specialist San Francisco announced on Monday that it had closed nearly $ 100 million in funding as the company seeks to expand its line of analytics and data products.

Capella raised $ 97 million through a mix of equity and debt, a turn led by NightDragon, and merged with previous investors DCVC and Cota Capital. The company refused to determine its valuation after the funding round.

The risk business is based on combining a unique type of image – known as a synthetic aperture radar or SAR – with a small, inexpensive spacecraft. The company is building a satellite network that can take pictures of places on Earth several times a day. With SAR technology, Capella’s satellites can capture images at any time, even at night or through cloud cover.

On the evening of March 25, a synthetic aperture radar image taken by a Capella satellite shows the ship Ever Given surrounded by a support vessel in the Suez Canal.

Capella Space

Capella currently has seven satellites in orbit, and plans to launch more in the next two years. Payam Banazadeh, the company’s chief executive, did not specify the target number of satellites he wanted to add, saying “it’s not about the number of satellites you want to put”.

“It’s what customers want – where they are in terms of the work they’re doing with you – and how fast the market is growing,” Banazadeh said.

With its range of satellites, Capella can take images “anywhere in the world” every three to four hours, he said.

Capella added that Capella has “more than a dozen anchor customers,” and has doubled its revenue in the last 12 months. The company refused to determine the annual income. It was founded in 2016 and currently has about 160 employees.

Capella Space raises $ 97 million to deploy satellite data products

Source link Capella Space raises $ 97 million to deploy satellite data products

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