SkyWatch Raises Seed Financing of $3.2 Million
SkyWatch Space Application, a Waterloo, Canada-based startup, announced it has raised CA$4 million ($3.2 million) to continue the development of its aggregation and distribution platform for satellite data. SkyWatch’s distribution platform, EarthCache, allows companies to integrate Earth Observation (EO) satellite data into their applications, while empowering satellite operators to efficiently distribute data to new and previously underserved markets. Sinai Ventures and Space Angels led the financing with participation from Golden Venture Partners, Techstars Ventures, SK Ventures, Globalive Capital, and ARC Angel Fund.
The fundraising proceeds will be used to add strategic hires, accelerate product development, and build partnerships, the company stated. SkyWatch is currently negotiating distribution rights with more than 30 satellite operators to service customers across agriculture, energy, finance, infrastructure, market intelligence, and other industries.
“Because Earth observation data has the potential to positively impact everyday life in so many ways, everyone should have the ability to easily incorporate this unique data type into their software applications. However, the barriers have been far too high, until now,” saidJames Slifierz, SkyWatch Chief Executive Officer (CEO) and co-founder. “SkyWatch was started with this vision and we’ve spent the past three years developing our platform alongside our early adopters. Satellite data integration into any software application is now as easy as payments integration via Stripe, or communications integration via Twilio. We’re excited for the tremendous growth ahead, for both the company and the industry.”