Hydrosat, a geospatial data analytics company, has secured $20m in government grants and investments to measure water stress in plants and other indicators of climate change. The funding includes $5m in government grants and $15m in series A investment, led by Statkraft Ventures. Hydrosat will use the funding to build two satellites, expand its staff and develop a new commercial data fusion and analytics product. The satellites are due to launch in early 2024. Hydrosat’s technology uses high-resolution thermal imagery combined with advanced analytics to optimise irrigation, fertiliser usage, wildfire and drought prediction, water re management and urban heat mapping.
Hydrosat, a geospatial data analytics company, has secured $20 million in government grants and investments to measure water stress in plants and other indicators of climate change. The funding round was led by Statkraft Ventures, and participants included Blue Bear Capital, Hartree Partners, OTB Ventures, Freeflow Ventures, Cultivation Capital, Techstars, Santa Barbara Venture Partners, Expon Capital, and Hemisphere Ventures.
The funding consists of $5 million in government grants and $15 million in Series A investment. Hydrosat will use the funding to build two satellites, expand its staff, and introduce a new commercial data fusion and analytics product to the market. The company’s first two satellite missions are scheduled to launch in early 2024.
Hydrosat’s mission is to address climate change head-on with satellite data. Extreme weather events like droughts, wildfires, storms, and flooding are becoming increasingly frequent. In 2022, the United States experienced 18 weather and climate disasters with price tags of $1 billion or more.
The company’s technology combines high-resolution thermal imagery with advanced analytics to optimize irrigation, fertilizer usage, wildfire and drought prediction, water re management, and urban heat mapping capabilities. Cost-effective thermal infrared imagery is considered one of the holy grails for effective land management, efficient and responsible agricultural development, and precision climate analytics.
Hydrosat has raised $35 million since its founding in 2017. The company’s recent funding will significantly improve insights and decision-making for those in charge of addressing climate change. The societal need for insights on water stress and climate are only growing, which drives a significant market need for space-based insights.
Hydrosat’s CEO, Pieter Fossel, said that climate change is humanity’s most pressing issue, and Hydrosat is addressing it head-on with satellite data. He added that the company’s technology would provide insights on water stress and climate, which are crucial in addressing climate change.
The recent funding from government grants and investments will enable Hydrosat to expand its capabilities and bring new products to the market. The company’s technology will help optimize irrigation, fertilizer usage, wildfire and drought prediction, water re management, and urban heat mapping capabilities.
Hydrosat’s recent funding round is a significant milestone for the company and the climate tech industry. It shows that investors are willing to support companies that address climate change head-on and provide solutions to mitigate the effects of extreme weather events.
