Waterloo’s SkyWatch raises $10M to make satellite data easily accessible
Posted Jan 3, 2020 06:45:00 PM.
This article is more than 5 years old.
A Waterloo-based space technology startup has completed a $10 million ($7.5 million USD) Series A round of financing to provide companies with affordable and reliable access to satellite data.
The CEO and co-founder of SkyWatch Space Applications Inc. says the new round of financing will enable the company to accelerate and grow past 1,000 customers over the next year.
Bullpen Capital led the latest investment round with participation from existing investors including Space Capital, Golden Ventures and Techstars Ventures, as well as new investors BDC Industrial, Clean, and Energy Technology Venture Fund.
“Over the past couple of years, SkyWatch built key enabling technologies for the future of Earth Observation capture and distribution. Today, we are excited to announce that we'll be able to commercialize and scale that technology globally, thanks to the closing of our Series A financing.” SkyWatch's CEO and co-founder, James Slifierz said in a release.
“We're excited to have Bullpen Capital and BDC, two firms with deep experience in scaling technology companies, join the SkyWatch team. We're also happy to have the support from our earliest investors who continue to believe in our ambitions to change the Earth Observation industry.” he added.
SkyWatch also announced the launch of its newest product – TerraStream – which will provide any company launching a satellite with an integrated data storage, cataloging, ordering, processing, and delivery solution, allowing them to serve customers faster, with less operational and financial risk.
“We feel incredibly lucky to be building our vision of the future right here in Waterloo, Canada, one of the most vibrant technology hubs in the world, and an important ecosystem within Canada’s space technology landscape.” said Slifierz.
