- SatVu has raises £10 million in equity in addition to insurance proceeds puts significant momentum behind the company’s goals.
- The equity comes from a funding round co-led by Adara Ventures and Molten Ventures, with continued support from their existing investors: NOA, Lockheed Martin, Seraphim, Ridgeline and Stellar Ventures.
- This round, alongside wider strategic funding, will support the launch of HotSat-2 and HotSat-3, which are both expected to ship for launch in 2025.
London, UK – [27th November 2024] – SatVu, a global leader in climate technology, has secured £20 million in strategic funding, comprising a £10 million landmark equity round co-led by European venture capital firm Adara Ventures and existing investor Molten Ventures, and an insurance payout.
This investment is the first from the newly established Adara Ventures Energy Fund, which is committed to fueling groundbreaking technologies that drive the energy transition across Europe.
SatVu’s cutting-edge thermal imaging capabilities have already made waves in the earth observation sector. The company’s HotSat constellation, led by the launch of HotSat-1 in June 2023, has redefined how we monitor our planet by capturing unparalleled 3.5m resolution thermal data, unlocking new levels of insight into global carbon emissions and energy activity.
SatVu’s cutting-edge thermal imaging technology is redefining standards in earth observation, offering unparalleled insights into global carbon emissions and energy patterns.
The £20 million injection will accelerate the build and launch of HotSat-2 and HotSat-3, both of which are expected to ship for launch in 2025. These satellites will provide critical, near real-time thermal data, essential for understanding energy transition, monitoring infrastructure and economic activity, and driving targeted action towards climate mitigation and resilience, contributing to vital decision-making as the world progresses toward net-zero.
“With the invaluable new support from Adara Ventures, alongside the continued backing of our existing investor network, we’re accelerating our mission to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action. The launch of HotSat-2 and HotSat-3 will bring us closer to a net-zero future by providing the data needed to address the most pressing environmental and energy challenges of our time.”
Anthony Baker, CEO & Co-founder, SatVu:
“We are thrilled to embark on this journey with CEO Anthony Baker and the SatVu team. By harnessing high-resolution thermal imaging technology to unlock previously inaccessible data, we believe SatVu is well-positioned to fuel a new generation of data applications across multiple use cases that monitor energy efficiency, economic activity, renewable generation, and beyond.”
Alberto Gómez, Founding Partner at Adara Ventures.
“At Seraphim, we’re proud to support SatVu as they redefine Earth observation with their groundbreaking thermal imaging technology. Building upon the insights gained from HotSat-1, the launches of HotSat-2 and HotSat-3 will offer extraordinary high-resolution thermal data. This advancement will redefine our understanding of energy production, infrastructure activity, and emission dynamics – informing critical decisions as the world strives towards net-zero. To achieve transformative climate action, we must be guided by the data. SatVu’s technology provides the essential intelligence our planet requires, paving the way for a sustainable future.”
Patrick McCall, Venture Partner, Seraphim:
The funding will empower SatVu to continue pushing boundaries, with applications ranging from economic activity monitoring and national security to urban heat mapping and climate resilience. SatVu’s infrared technology provides a new dimension of data, enhancing our understanding of the world and driving urgent action toward a more sustainable future.
About SatVu
Founded to capture the highest resolution thermal data from space for a safer and more sustainable Earth, SatVu uses infrared technology to monitor locations on Earth in near real-time to measure the impact of human activity. SatVu’s technology brings a new layer of data that augments our understanding of the planet, providing valuable insights for a range of applications: from economic monitoring and national security to climate resilience, including urban heat monitoring. Partnered with Surrey Satellite Technology Ltd to build the satellite constellation, with the first launched with SpaceX in June 2023, SatVu is bringing the highest resolution thermal data to enable us to see the world like never before and take critical action towards net-zero goals.
About Adara Ventures
Adara Ventures invests in ambitious businesses, partnering with founders with the capacity, courage, and vision to execute. The firm has invested in over 46 companies, including industry leaders such as Seedtag, AlienVault, Playgiga, and ADD Semiconductor, and manages over €250m in capital. Adara Ventures’ portfolio includes companies dedicated to cybersecurity, applied AI, data infrastructure, hardware components, digital health, and the energy transition. For more information, visit www.adara.vc.
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