LeoLabs Raises $29M in Addition Financing
LeoLabs secured an additional $29 million in funding for its catalog of Low-Earth Orbit objects (LEO). The company said this latest financing will enable LeoLabs to scale up its insight delivery by further investing in advanced end-user applications and partner integrations.
New investors include GP Bullhound, 1941, and Dolby Family Ventures. This extension was also backed by existing investors including Insight Partners, Velvet Sea Ventures, Space Capital, MDSV Capital, and the AngelList Syndicate led by Dylan Taylor.
Per Roman, managing partner at GP Bullhound said, “We are deeply concerned that if humanity’s space expansion is not monitored and managed in a fair and equitable way, we may end up with environmental challenges in space that can harm life on our planet and therefore see LeoLabs as another key investment in our ESG theme alongside Ecovadis.”
LeoLabs uses artificial intelligence to process collected measurements into insights for both commercial and government operators. The company software allows clients to monitor LEO space traffic and prioritize space safety and sustainability. LeoLabs global network includes 10 ground radars with plans to expand further this year.
Dan Ceperley, CEO and co-founder of LeoLabs, said “This investment, led by GP Bullhound, enables us to accelerate this effort by bolstering our data architecture and system software.”
For government operators, LeoLabs aims to further integrate its space domain expertise and real-time insights on anomalous space activities into defense command operations. For commercial operators, the company seeks to deliver refined orbital data and safety alerts for mission planning and operations. In addition, LeoLabs also plans to increase its space traffic coordination currently in early stages with the U.S. Department of Commerce under a recent contract.
LeoLabs previously received $65 million in Series B funding from Insight Partners and Velvet Sea Ventures in June 2021.