British satellite startup Satellite Vu has raised £15 million in a Series A funding round. The company aims to monitor the temperature of any building on the planet in real-time from space and deliver insights into economic activity, energy efficiency, and carbon footprint. Ultimately, the company’s goal is to essentially be the thermometer for planet Earth. The new funding will be used to thrust forward plans to launch seven thermal and infrared imaging satellites into space, with the first scheduled for October 2022. To date, the firm has raised approximately £18.6 million.
Founded in 2016, Satellite Vu’s technology will collect temperature data from the Earth’s environment several times a day, and deliver data about energy efficiency and how individual buildings are being used and/or occupied. Using infrared and thermal imaging technologies, Satellite Vu can accurately determine if a building is being heated efficiently or which parts of a particular cluster on earth are wasting resources. With 40% of global carbon emissions being tied directly or indirectly to the real estate industry, construction and building performance are rapidly shifting from “nice to have” to “absolute necessity”.
With parts of the United States and elsewhere suffering the hottest summer on record, the tipping point has been tipped, and the scales of acceptance towards, “we need to fix things, NOW,” has been reached. Satellite Vu wants to be part of this solution.
“Our groundbreaking use of infrared and thermal imaging technology on our satellites will mean that landlords, funders, insurers and governments and regulators will be able to access real-time information at an affordable cost that will provide them with a single source of truth on how sustainable a building really is meaning they can take steps to make that building more sustainable,” comments CEO Anthony Baker.
Satellite Vu’s Series A raise was led by Seraphim Space Investment Trust, and saw participation from Draper Esprit, A/O PropTech, Ridgeline Ventures, Earth Science Foundation, E2MC Ventures, and Stellar Solutions/Ford Family Trust. Of interest, both Seraphim and Draper Esprit are publicly listed VC firms who've invested in Satellite Vu and Finland's Iceye
Draper Esprit’s George Chalmers added, “Satellite Vu is bringing a whole new category of data and solutions to these important markets. We believe in its potential to lead the charge in how we measure the energy efficiency and carbon footprint of our built world and deliver on the promises we are making to our planet.”