Strasbourg, June 15, 2021 -- Satellite-based earth observation data startups are gaining momentum globally with the increased participation of investors from several parts of the world. SkyWatch Space Applications Inc., a Canadian space startup, announced today the completion of a $17.2M USD Series B round of financing to further democratize access to Earth observation data. The investment round was led by Drive Capital with the participation from several investors - Bullpen Capital, Space Capital, Golden Ventures, and BDC Ventures.
The Series B financing builds on an exceptional first half of 2021 for SkyWatch, which is seeing revenue growth in excess of 450% over the same period last year, highlighting the appetite for Earth observation data from the private sector. SkyWatch also announced the launch of the first TerraStream-enabled satellite earlier this month, which further advances the company's mission of making commercial Earth observation data more available and accessible. With 40 satellites under contract for launch by SatRevolution, SpaceJLTZ, Wyvern, and others, SkyWatch is enabling the future of the global commercial satellite launch market and removing the barriers to entry typically present in the space industry.