Startup Creating Thermal Image of World’s Emissions Raises $15.8M

A startup developing a satellite constellation to monitor global emissions has closed its series A funding round with $15.8 million.

The London-based startup, Satellite Vu, plans to use thermal imagery from its satellites to identify and measure heat emitted from individual buildings, helping businesses and governments “take critical action towards Net Zero goals.”

In total, the constellation will be made up of eight satellites.

The latest round was led by Molten Ventures, with participation from Seraphim Space, Lockheed Martin, Ridgeline Ventures, Earth Sciences Foundation and Stellar Ventures. 

Previously, the company also received a $1.2 million grant from the U.K. Space Agency’s National Space Innovation Program.

"This funding round puts us in a strong position to hit our commercialization goals over the next 12 months and build the foundations to enable rapid scale-up post-series B,” said Camilla Taylor, Satellite Vu’s CFO. “We are proud to have such meaningful support from our existing investors - it shows that we are on the right track, both to building an economically sustainable business and tackling the climate crisis."

According to the company, the funds raised thus far will allow it to enter commercial operation, and begin preparations to scale up following the closing of its upcoming series B round. 

The first satellite in the constellation is set for launch in June, with the initial spacecraft built in collaboration with Surrey Satellite Technology, and used to collect imagery and video. Following the launch, the company is expected to open its series B round. 

“By providing data from the unique vantage point of space, Satellite Vu’s technology can support action to protect our planet and bring us closer to Net Zero,” said Paul Bate, U.K. Space Agency’s chief executive.