Fri. Sep 29th, 2023
Open Cosmos Raises £40 Million in Series B Funding Round

InvestmentData-gathering satellite firm Open Cosmos has secured £40 million in a Series B funding round. The company, founded in 2015, currently has a team of 70 people spread across the UK, Spain, and Portugal. With this funding, Open Cosmos aims to expand its operations into Latin America, the Middle East, and the Asia Pacific region. The firm, which is already EBITDA positive, had previously raised $7 million in investment.

The Series B funding round was led by ETF Partners, Trill Impact, and A&G. Other participants in the round included Accenture Ventures, Banco Santander InnoEnergy Climate Tech Fund, Claret Capital Partners, as well as angel investors Taavet Hinrikus and Kheng Nam Lee.

Open Cosmos is on a mission to enable all organizations to access the benefits of satellite data and insights to address global challenges such as the climate crisis, energy transition, and sustainable resource usage. The company offers a range of satellite services, including telecommunications, Earth observation, navigation, and scientific missions.

Through its OpenOrbit offering, Open Cosmos designs, builds, launches, and operates advanced satellites. It also provides access to data through its mutualized OpenConstellation infrastructure and offers AI-powered data analysis via its DataCosmos platform, utilizing a growing range of satellite sources and analytic partners.

Open Cosmos has already launched satellites such as Menut, which monitors deforestation, wildfire impact, flooding, and coastal erosion. Future satellite launches include MANTIS, focused on high-resolution imagery for logistics, energy infrastructure, and natural resource monitoring, and IOD6, which will monitor the Atlantic coastal and maritime areas. Additionally, the Platero satellite, contributed by Spain, combines Earth observation and IoT capabilities to monitor biodiversity and provide real-time insights in the context of natural catastrophes.

The launch of these satellites will enable them to join the OpenConstellation, while the critical data collected will become part of the DataCosmos platform.