The pioneering space technology company constellr, has successfully secured new funding to further expand its operations and make its mark in the emerging thermal data market in North America. The additional investment will close its seed round at an impressive €17 million and includes backing from leading venture firms Karista and Einstein Industries Ventures, among others.
Constellr’s success story began with its groundbreaking space-based temperature, water, and carbon measurement solutions catered to the agricultural sector. Initially establishing a strong market presence in Europe and venturing into Brazil earlier in the year, the company’s remarkable performance has sparked substantial demand from North America.
The recent funding extension, led by Karista with support from Einstein Industries Ventures, along with existing investors FTTF, Lakestar, Vsquared, Amathaon Capital, Natural Ventures, OHB Ventures, and EIT Food, will be instrumental in the swift deployment of constellr’s new generation of thermal satellites. These satellites will not only cater to the growing demand in Europe but also address the significant interest from customers in the United States.
Investing in constellr represents a unique opportunity for forward-thinking investors to be part of a transformative SpaceTech revolution that impacts industries like agriculture and climate-related concerns. Michael Thomas, Investment Director at Karista, expressed confidence in constellr’s management team and its potential to strengthen its leading position in Europe while expanding its commercial reach globally, particularly in the US market.
Constellr’s journey began with the launch of its first system into space last year, which enabled the company to secure major agrifood and institutional customers for its flagship product, “celestr,” focused on land surface temperature data. Notably, the company is set to launch its first fully commercial HiVE (High-Precision Versatile Ecosphere Monitoring) satellite in 2024. Customers have already been allowed to reserve access to constellr’s high-resolution data service through an Early Access Program, which offers preferential rates.
The company attributes its success to the unparalleled accuracy, parcel-level resolution, and high-frequency land surface temperature data it provides. This data has already generated significant interest from both Brazilian and US markets. Additionally, constellr’s recent involvement in the Copernicus Program as a contributing mission has opened doors to serve numerous institutional customers across Europe, which sets the stage for its expansion into the vast and burgeoning US market.
Dr. Max Gulde, CEO of Constellr, emphasized that their precise layer of thermal imaging data could lead to a paradigm shift in how the global agricultural sector adapts to the challenges posed by a changing climate. With the backing of esteemed investors like Karista and Einstein Industries Ventures, constellr’s innovative solutions gain valuable validation, fostering confidence in the company’s ability to revolutionize smart farming services and address critical concerns related to global food security in the face of climate change.
Constellr is a pan-European technology company at the forefront of enabling globally scalable high-precision smart farming services for the agricultural sector. With a focus on supporting global food security in the context of climate change, constellr utilizes proprietary space infrastructure and beyond-visual imaging technology to assess vegetation and soil health at an unprecedented level.
Image provided by Constellr
2 Comments