British Earth Observation scale-up Satellite Vu, founded in 2016, has successfully closed the second round of its Series A, bringing total investment to GBP20 million.
Satellite Vu’s first funding round was led by Seraphim Space Investment Trust Plc, the world’s first listed SpaceTech Fund.
New participants in the second close include Contrarian Ventures, as well as US investors Lockheed Martin, and In-Q-Tel, Inc — notable for its mission to invest in cutting-edge technologies to enhance the national security of the United States.
The funding round highlights Satellite Vu’s rapid growth – the company raised its seed round funding of GBP3.6 million (USD5 million) in April last year.
As well as US expansion, Satellite Vu’s new investment will be directed to ramping up its plans to launch a constellation of seven thermal infrared imaging satellites that will offer a resolution of 3.5m, this outperforms existing available resolution of 100m.
