Photo: Sumitomo Corporation

Sumitomo Corporation of Americas has invested into Ursa Space Systems to help the company serve customers across Asia, particularly in the Japanese market. The firm is the largest subsidiary of Japanese conglomerate Sumitomo Corporation. Terms of the funding round were not disclosed. 

The companies have also signed an exclusive agreement for the Sumitomo Corporation  to represent Ursa Space’s services and platform in the Japanese market. Sumitomo said that it aims to commercialize Ursa Space’s solutions through proof-of-concept activities and promotion to implement its platform on the user side. Sumitomo Corporation Group has been working to expand its space businesses and is also invested in HawkEye 360.

Ursa Space Systems operates a geospatial platform that brings together remote sensing solutions including satellite imagery from multiple providers. The company’s solutions are used to detect real-time changes in the physical world through multi-modal satellite imagery and data fusion. With this funding, the company plans to grow its reach into the Asian market. 

“Partnering with Sumitomo as we expand into Japan positions us strongly for success,” Ursa Space CEO Adam Maher said. “We’re thrilled by Sumitomo’s investment and the trust they’ve placed in our vision. This partnership will enable us to bring the power of geospatial solutions to a wider audience and accelerate our mission to deliver insights at unmatched speed and scale.”