Satellite Vu raises further £12.7m in Series A-2 funding

The UK thermal infrared satellite firm says the A2 round was led by Molten Ventures, with participation from Seraphim Space Investment Trust PLC, A/O Proptech, Lockheed Martin, Ridgeline Ventures, Earth Sciences Foundation, and Stellar Ventures. All are existing investors.

The company said the Series A-2 round showed the “continued growth and appetite” for space and climate technology funding.

“This funding round puts us in a strong position to hit our commercialisation goals over the next 12 months and build the foundations to enable rapid scale-up post-Series B,” said Camilla Taylor, CFO of Satellite Vu.

“We are proud to have such meaningful support from our existing investors – it shows that we are on the right track, both to building an economically sustainable business and tackling the climate crisis.”

Thermometer

Describing its aim as to “become the thermometer of the world”, Satellite Vu’s first satellite – built in partnership with Surrey Satellite Technology – will provide temperature data of any structure on the planet in near real time. It is due to launch this month on a SpaceX Falcon 9.

Post launch, Satellite Vu says it expects to go to market for a Series B raise, to complete its planned constellation of eight satellites to enable high frequency thermal monitoring.

Earlier in this year – back in February – the company announced it had secured £81 million worth of purchase options, from thirty companies, for its Early Access Programme (EAP) for satellite thermal imaging.

Industry applications for those involved ranged from Industrial Activity Monitoring and Defence and Intelligence, through to Built Environment and Agriculture.

See also: Satellite Vu takes temperature of Surrey Research Park