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Satellite Vu Secures Series A Follow On Investment Led by Seraphim Space Investment Trust – UK Technology Investment News

Lockheed Martin invests in Satellite Vu to bring its world’s first climate change technology to the United States.

  • American investors Lockheed Martin and In-Q-Tel have identified the potential of a British aerospace company producing the world’s first highest resolution infrared datasets available from space.
  • Satellite Vu will launch a constellation of seven satellites, which together will offer near real-time thermal images that can be used to study and measure buildings, cities and waterways around the world.
  • The fundraiser is Satellite Vu’s third successful fundraiser in the past ten months, bringing the total to £ 20 million (US $ 27.5 million) over the period including grants.
  • The solutions offered by Thermal Earth Observation innovation are vast, with applications such as activity monitoring, building heat generation analysis and urban heat island detection, all possible thanks to improvements in geospatial technology.

London, 1st March 2022: British Earth observation is on the rise Satellite Vufounded in 2016, it successfully closed the second round of its Serie A, bringing the total investment to 20 million pounds.

Satellite Vu’s first round of funding was led by Seraphim Space Investment Trust Plc, the world’s first listed SpaceTech Fund. New entrants to the second close include Contrarian Ventures, as well as US investors Lockheed Martin and In-Q-Tel, Inc., known for their mission to invest in cutting-edge technology to improve US national security.

Funding Round Highlights Satellite Vu’s Rapid Growth; the company raised its initial funding of £ 3.6 million ($ 5 million) in April last year.

In addition to the expansion in the United States, Satellite Vu’s new investment will be aimed at increasing its plans to launch a constellation of seven infrared thermal imaging satellites that will offer a resolution of 3.5m, surpassing the available resolution. existing of 100 m.

Satellite Vu plans to launch the first of its constellation of satellites into orbit within the next year. The satellite will collect thermal data, day and night, from both the natural environment and the built environment anywhere on the planet.

This constellation will be used to provide near real-time data on the green credentials of buildings anywhere on the planet. The power of Satellite Vu’s technology extends beyond the built environment to applications within environmental monitoring, sustainable finance, and activity-based intelligence. The company has also begun to fully measure and disclose its carbon emissions as a first step towards achieving its Net Zero goals.

Construction

The entire constellation of Satellite Vu will have the ability to measure the thermal signature of any building multiple times a day, allowing the Satellite Vu to derive new information in near real time about the heat loss, activity and insulation of the building. . By measuring the heat from a building, Satellite Vu will provide data that will be able to show whether a single building is being heated efficiently or which parts of a city are subject to urban heat islands.

The built environment accounts for 40% of global carbon emissions, making it a major contributor to climate change.

Satellite Vu’s data has the potential to be a game changer for anyone involved in the construction, financing and insurance of real estate and related infrastructure. By providing global data at the micro-local level, the technology will enable real estate market players to make the right decisions to green building stocks.

Government

Satellite Vu data can address many of the pressing problems faced by governments in terms of security and climate change. The data offers the opportunity to identify and characterize small ocean-going vessels that might otherwise be invisible to other space sensors, and can also monitor the productivity and safety of global supply and commodity chains. In addition, near real-time infrared video and images can be used for dynamic and ongoing events to inform first responders about fire and disaster relief.

Transparent carbon emissions

The latest round follows the news that Satellite Vu has made carbon emissions data available to the public, to raise awareness and promote responsibility towards business sustainability.

Satellite Vu has become one of the first large space companies to publicly share their carbon emissions data in an effort to meet the targets set at the recent COP 26 summit in Glasgow. Satellite Vu hopes its transparency will encourage other companies to follow suit and take responsibility and action against climate change.

Pollution of thermal waters

Satellites may also be tasked with monitoring thermal water pollution around the world. The monitoring could detail the thermal changes caused by oil refineries, wastewater treatment plants and nuclear power plants. In addition to monitoring productivity and illegal activities, the satellites will also be able to validate ESG (Environmental, Social and Corporate Governance) credentials, creating opportunities to link pollution events to an “environmental” or “E” factor. agency.

Anthony Baker, CEO of Satellite Vu, said:

“We are thrilled to have raised additional funding to further our expansion into the US market. Our advanced infrared camera will be able to offer unique and never-before-seen insights into human activity, and the entire constellation will allow up to twenty revisits per day of a single location anywhere on the planet. The funding supports the development of new applications and enables closer collaboration on proof of concepts with our customers. This investment further demonstrates that our technology offers potential benefits to national security capabilities and we look forward to building and expanding our relationships with partners overseas, particularly the United States. ”

James Bruegger, Chief Investment Officer of Seraphim Space (Manager) LLP, commented:

Our latest investment in Satellite Vu reflects our confidence in and commitment to a company that is about to significantly improve the capabilities of the space sector. The funding round will give the company the capital to step up its plans to launch a constellation of seven infrared thermal imaging satellites, critical to help provide near-real-time information on a building’s heat loss, monitor potential disasters. and worldwide record of carbon emissions. Satellite Vu is critical in helping solve the biggest challenges we face. ”

Chris Moran, vice president and general manager, Lockheed Martin Ventures, said:

“Satellite Vu’s thermal earth observation technology motivates the interests of both the commercial sector and national security. The real-time infrared data exploited by the Satellite Vu’s constellation of imaging satellites will provide critical information and support broader safety priorities. ”

About Satellite Vu

Founded to bring satellite technology to address our global challenges, Satellite Vu will be able to monitor the temperature of any building on the planet in near real time using a new infrared camera. These images will provide valuable insights into economic activity, energy efficiency and humanitarian responses. The Vu satellite will be the Earth’s thermometer in space.

Satellite Vu raised £ 20m from Seraphim Space Investment Trust-led venture capital and grants. The development of the satellite and application was supported by the UK Space Agency, through two National Space Innovation Grants and a grant from the European Space Agency’s General Support Technology Program.

The satellite constellation will be built by Surrey Satellite Technology Ltd and the first satellite will be launched into low Earth orbit in early 2023.

About Lockheed Martin Ventures

Lockheed Martin Ventures makes strategic investments in companies that are developing cutting-edge technologies in core businesses and new markets that are important to Lockheed Martin.

More than a source of capital, Lockheed Martin Ventures gives partner companies access to our world-class engineering talent, cutting-edge technologies and research and access to the company’s international business relationships and supply chain. For more information please visit www.lockheedmartinventures.com.

Information on In-Q-Tel

In-Q-Tel, Inc. is the nonprofit strategic investor that government intelligence and homeland security agencies have relied on for more than 20 years to anticipate their technology questions and needs and deliver solutions. In-Q-Tel is sourcing, investing and accelerating cutting-edge technologies from the commercial start-up community to strengthen the security of the United States and its allies. The entirety of IQT – In-Q-Tel and IQT International, IQT Labs and IQT Emerge – feeds its government partners ahead of the technology curve. For more information visit www.iqt.org.

About contrarian initiatives

Contrarian Ventures is a hands-on, community-centered, founding VC focused on early stage climate technology in Europe and Israel. In addition to the Fund’s core business, investments, Contrarian Ventures has also founded several initiatives that are contributing to the promotion of the energy community in Europe incl. Climate50, Energy Tech Summit and Energy Tech Challengers.

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Satellite Vu Secures Series A Follow On Investment Led by Seraphim Space Investment Trust – UK Technology Investment News

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