Home » Open Cosmos gains 50 million in Series B led by ETF Partners and more

Open Cosmos gains 50 million in Series B led by ETF Partners and more

Open Cosmos, a space tech business, has raised 50 million in Series B with the leading investors – ETF Partners, Trill Impact, and A&G. 

Additional investors were Accenture Ventures, Banco Santander InnoEnergy Climate Tech Fund, and Claret Capital Partners, with participation from Taavet Hinrikus and Kheng Nam Lee.

The funding gained will be utilized to fasten international company growth, expansion of more sophisticated satellites and constellations, and satellite-based analytics and insight solutions.

It designs, builds, launches, and operates advanced satellites through its OpenOrbit offering.

Open Cosmos satellite contribution –

The company’s satellite MENUT, launched in 2023, delivers pictures that can monitor deforestation, wildfire impact, flooding, and coastal erosion. 

The new satellite includes – 

  • MANTIS claims to produce high-resolution imagery to monitor logistics, energy infrastructure, and natural resources.
  • IOD6 suggests it will focus on monitoring the Atlantic coastal and maritime area.
  • PLATERO, contributed by Spain, will combine Earth Observation and IoT on the same satellite to monitor biodiversity and provide real-time insights in the context of natural catastrophes.

Rafel Jorda Siquier, CEO and Founder at Open Cosmos, said: “Since launch, we’ve viewed Open Cosmos as more than a space tech company; we are agents of change, harnessing the power of satellite data to drive meaningful impact on Earth.”

“Our successful Series B funding, with the support of such prominent ESG and impact investors, is a testament to our commitment to sustainability and innovation.”

“It is important for us as a business to work with investors that believe in our mission and align with our values to use technology to solve urgent global problems and we’re delighted to find that with ETF Partners, Trill Impact and A&G.”

“This investment will propel us forward, allowing us to accelerate our growth, expand our capabilities, and continue offering cutting-edge solutions.”

source: https://www.open-cosmos.com/news/open-cosmos-raises-50m-from-leading-impact-investors-to-grow-its-leadership-in-accessible-sustainable-space-tech-and-satellite-data