Sat. Sep 30th, 2023
Open Cosmos Secures $50 Million Funding for Expansion

Smallsat developer Open Cosmos has successfully raised $50 million in a Series B funding round. The investment will be used to develop larger satellites and constellations focused on Earth observation. The funding was led by ETF Partners, Trill Impact, and A&G, three funds that specialize in supporting companies that provide societal or environmental benefits.

Open Cosmos plans to expand its current satellite offerings, which have mainly been cubesats, to larger spacecraft and constellations. Additionally, the company is working on a satellite data analytics platform called DataCosmos.

CEO and founder of Open Cosmos, Rafel Jorda Siquier, expressed delight in finding investors who align with the company’s mission and values. He stated that the investment will drive forward their growth, capabilities, and ability to provide cutting-edge solutions.

Open Cosmos has already launched several smallsats to support Earth observation, communications, and navigation applications. In March of next year, the company is set to launch five more satellites, all 6U or 12U cubesats, with a variety of Earth observation applications such as agriculture and disaster management.

The company’s OpenConstellation initiative was created to facilitate data sharing between organizations, enabling improved access to information on our planet in order to drive sustainability and impact. By sharing space assets, Open Cosmos aims to significantly lower costs and simplify access to Earth observation data.

Open Cosmos aims to differentiate itself in the competitive Earth observation sector by offering “cost-effective end-to-end fully managed missions” for its customers. The company prides itself on agile development, versatility in accommodating diverse applications, and fostering global partnerships.

Toba Spiegel, investment manager at Trill Impact, praised Open Cosmos for its affordable multi-sensor space data and described it as a pioneer in creating an app store-like analytics offering.