Satellite data company Hydrosat raises US$ 5M in seed funding

US-based Hydrosat, a satellite data company that turns space imagery into vital products for agriculture and related industries, raised US$ 5 million in seed funding on 18 June 2021.

Investors: The funding round was led by Cultivation Capital with participation from Freeflow Ventures, the Yield Lab, Expon Capital, Techstars, Industrious Ventures, and Synovia Capital. The total funds raised by the startup to date stands at US$ 10.6 million.

Lori Garver, Andy Dearing, and Ryan Johnson will join the Board of Directors of Hydrosat. Lori Garver is the CEO of Earthrise Alliance, the former Deputy Administrator of NASA and a former board member of Maxar Technologies. Andy Dearing of Cultivation Capital was the CEO of government analytics provider Boundless Spatial. Ryan Johnson was the CEO of RapidEye, a Berlin-based agriculture satellite constellation.

About Hydrosat

Founded in 2017 by Jakob Van Zyl, Pieter Fossel, Royce Dalby and Yunjin Kim, Hydrosat is a data analytics company that uses thermal infrared imagery to provide insights for commercial and government customers. Its high-capacity thermal imagery provides a unique perspective on our planet, and its advanced analytics convey precise crop yield forecasts and improved irrigation tools to financial and agribusiness customers around the globe.

Hydrosat is flying a multi-spectral and thermal infrared mission with Loft Orbital on a SpaceX Falcon 9 in 2022. It is planning to launch an additional 16-satellite constellation which will have the capacity to scan the entire globe on a daily basis, generate science quality infrared data and an analytics-ready land surface temperature product.

What the CEO has to say: “This investment will allow us to further our mission of addressing food security, water scarcity, and climate risk by unlocking the power of thermal infrared data from space. This investment allows us to build off of our existing government business to bring a commercial product to users in agriculture and analytics. We are building a commercial capability that will make the entire globe available daily from our library, which is powerful for machine learning users.” — Hydrosat CEO Pieter Fossel.

What the investors have to say: “Water stress is one of the most widespread and pressing challenges with climate change, and we believe that Hydrosat is uniquely positioned to address this. Hydrosat has assembled a great team to make this happen, and we are excited to lead the investment.” — Andy Dearing,

“Hydrosat is positioned to do for Earth sciences what SpaceX did for launch, which is to offer a high-quality, commercial capacity for government and commercial users.” — Lori Garver.

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