Lockheed Martin Invests in EO Startup Satellite Vu
British Earth observation (EO) startup Satellite Vu has closed the second round of its Series A, bringing total funding to 20 million pounds ($26 million). Seraphim Space Investment Trust Plc, led the round, with Lockheed Martin participating as well. New participants also included Contrarian Ventures and In-Q-Tel. Satellite Vu announced the Series A second close on March 2.
Satellite Vu, based in London, is working to build a constellation of seven thermal infrared imaging satellites to collect thermal data. This type of data can be used to provide information about building energy efficiency, which is a contributor to climate change. It can also monitor thermal water pollution and thermal variations caused by oil refineries, wastewater treatment works, and nuclear power plants, and provide information about wildfires and disaster relief incidents.
This funding will support plans to launch the first satellites in its constellation in the next year, and an expansion to the U.S.
The company says its constellation has the potential to impact climate change, and it is also engaging in transparency by sharings its own carbon emissions data publicly.
“Our advanced thermal infrared camera will be able to offer unique, previously unseen insights into human activity and the full constellation will enable up to twenty revisits per day of a single location anywhere on the planet,” commented Anthony Baker, Satellite Vu CEO. “This investment further demonstrates that our technology offers potential benefits for national security capabilities, and we look forward to building and expanding our relationship with partners overseas, particularly the U.S.”
Chris Moran, vice president and general manager, Lockheed Martin Ventures said Satellite Vu’s technology can support both commercial and national security sector interests. “Real time infrared data leveraged from Satellite Vu’s imaging satellite constellation will provide critical insights and support broader security priorities,” Moran commented.