London – Satellite Vu, the UK climate tech company, announces their Series A2 of £12.7m bringing their total investment to £30.5m in Venture Capital funding to accelerate its mission to provide sustainable solutions to global issues.
Satellite Vu’s space-enabled climate technology provides a valuable and incomparable insight into economic activity, energy efficiency and carbon footprint for a range of industries including: Built Environment; Defense and Intelligence and Industrial Activity Monitoring.
This data will enable industries, organisations and governments to take critical action towards Net Zero goals. Satellite Vu has already secured customer commitments through its Early Access Option Programme (EAP) valued at over £128m ($160m).
Unique in the current market for wider VC backed businesses, this level of investment shows the continued growth and appetite for space and climate technology funding.
The company’s upcoming satellite launch via SpaceX, slated for early June, is highly anticipated. Their first thermal monitoring satellite – aka ‘The World’s Thermometer’ – built in partnership with Surrey Satellite Technology Ltd (SSTL), is ready for deployment and is expected to deliver valuable data to support Satellite Vu’s mission.
This funding will enable Satellite Vu to enter commercial operation, converting EAP customers to revenue bookings from Q4 2023, post launch, to bring unique new datasets to market, and to build out an organisational structure ready to scale post completion of a Series B round. Satellite Vu expects to go to market for a Series B raise post first launch, to complete the constellation of eight satellites to enable high frequency thermal monitoring at scale.
This investment is crucial in the fight against climate change. By supporting Satellite Vu’s cutting-edge technology, investors are backing a sustainable future and a world where carbon emissions are significantly reduced.
Satellite Vu says it is committed to delivering world-class thermal satellite data to support climate action.
- Satellite Vu press release