Aiming to secure the global food supply via its space-based temperature, water, and carbon measurement solutions for the agricultural sector, constellr has extended its seed round to €17 million.
The Fraunhofer Institute spin-out announced a $10 million seed round in November of 2022 that was co-led by Lakestar and VSquared and saw the participation of FTTF, IQT, Amathaon Capital, Natural Ventures, EIT Food, OHB Venture Capital, Next Humanity, and Seraphim.
Parisian firm Karista took the lead on the seed round extension, with Einstein Industries Ventures participating.
The additional funding will be used to further bolster the company’s market position as it expands its operational scope to include North America.
“We believe constellr’s approach to building the most precise layer of thermal imaging data will accelerate a paradigm shift in how the global agricultural sector adapts to the impacts of an evolving climate,” commented constellr CEO Dr. Max Guide. “Having the stamp of approval from both Karista, who will drive our French market entry, and Einstein, with their deep space industry expertise, alongside our existing top-tier investor base, is a huge step in validating our solution.”