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Spire’s Receives More Than $40 Million in New Funding

By | September 25, 2019
Artist rendition of Spire's Lemur-2 satellite. Photo: Spire

Artist rendition of Spire’s Lemur-2 satellite. Photo: Spire

Spire Global received more than $40 million in new funding from strategic partners including ITOCHU, Mitsui, and Scottish Investment Bank and financial investors led by the GPO Fund, Perennial Value Management, and Bessemer Ventures. Existing investors RRE Capital, Expon Capital, Seraphim Capital, and Qualcomm Ventures also participated, among others.

This investment will allow Spire to substantially increase the creation of its proprietary space-based data and analytics with a new level of accuracy for aviation, weather data, and extreme weather prediction analytics. ”Especially in the high growth areas of APAC we see tremendous potential for Spire’s data and analytics,” adds Key Compton, Managing Director, The Global Public Offering Fund (GPO Fund) “These regions traditionally did not have access to such sophisticated climate and economic activity monitoring tools, despite encompassing half of the world’s GDP and population.”

‘We are thrilled by the affirmation of these strategic relationships and how this capital infusion affords Spire continued validation from the strength of our respected financial investors. While we increasingly continue to fund our organic growth from revenue, this investment allows the company to also execute on its substantial path of international advancement,” said Spire CEO Peter Platzer.