News from Washington reported that Canadian startup SkyWatch Space Applications had collected 7.5 million U.S dollars to continue with its software development mission that will make satellite imagery easier to get.
SkyWatch is constructing a distribution podium for satellite imagery, and the software enhanced for surface systems of the remote-sensing satellites. Waterloo company has managed to raise 10.9 million U.S dollar to this moment, totaling this Series A as well as a 2018 seed period, which was forerunner by Space Angels as well as Sinai Ventures companies.
James Slifierz, who is the current SkyWatch’s chief executive went on to say firm has no aim of propelling its satellites. However, instead concentrating on the sale of the images on from space.
During an interview, James Sslifierz said, the company wants to develop an application program interface that permits our users and application inventers to quickly and programmatically incorporate data into their software, in the same manner, they would influence a service such as GPS, but for satellite images market.
SkyWatch will use satellite images from corporations such as the company in the U.S. known as Planet, SIIS for South Korea, and a company in Beijing known as SpaceWill as well as data from NASA and the companies in Canadian and European that deal with space agencies. According to Slifierz, SkyWatch uses optical and artificial aperture radar data as well as hopes to add hyperspectral data when it’s obtainable.
Contemporary with its Series A, the SkyWatch on 3rd of January 2019 launched its TerraStreammerchandise for remote-sensing satellite workers. Slifierz reported that TerraStream offers turnkey ground piece software for holding data management, activities, cataloging, Storing, and tasking. He added the elimination of the necessity for everybody in the coming days, which is required to unveil a satellite to have to construct their software systems.
Bullpen Capital of 140 million U.S dollars is in early-stage project fund, directed by SkyWatch’s Series A, with involvement from half a dozen extra investors, as well as Space Capital, Techstars Ventures as well as BDC Industrial.
General partner at Bullpen Capital, Duncan Davidson, described Skywatch as a unique satellite corporation which should increase the market for satellite imageries by making it fast and straightforward to plan the image capture.
Slifierz announced that startup is around 20 people today, as well as will use its fresh Series A capitals to increase its size twice in the year 2020.
Slifierz reported that company could achieve cash flow positively following its investment, but it could consider raising additional funds to increase growth.