Satellite Vu raises further £12.7m
May 24, 2023
Satellite Vu, the UK climate tech company, has announced their Series A2 of £12.7 million (€14.6m) bringing their total investment to £30.5 million in Venture Capital funding to accelerate its mission to provide sustainable solutions to global issues. The A2 round was led by Molten Ventures, with participation from Seraphim Space Investment Trust PLC, A/O Proptech, Lockheed Martin, Ridgeline Ventures, Earth Sciences Foundation, and Stellar Ventures – all existing investors.Satellite Vu’s space-enabled climate technology provides am insight into economic activity, energy efficiency and carbon footprint for a range of industries including: Built Environment; Defense and Intelligence and Industrial Activity Monitoring. This data will enable industries, organisations and governments to take critical action towards Net Zero goals. Satellite Vu has already secured customer commitments through its Early Access Option Programme (EAP) valued at over £128 million.
Camilla Taylor, CFO, Satellite Vu: “This funding round puts us in a strong position to hit our commercialisation goals over the next 12 months and build the foundations to enable rapid scale-up post-Series B. 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.”
George Chalmers, Head of Climate-tech at Molten Ventures, said: “We’re leading Satellite Vu’s funding round as it prepares for its June launch. Their unique technology tackles key climate issues, and we’re impressed with their commercial progress. Their $160m in early commitments is a stellar model of pre-launch sales for deep-tech companies, which other climate-tech firms could emulate.”
Patrick McCall, Venture Partner, Seraphim Space, added: “In these extraordinary times of immense technological progress, Satellite Vu stands out as a trailblazing commercial enterprise at the forefront of harnessing space and data to revolutionise our approach to major climate change issues. With a remarkable commitment of over 160 million dollars in their EAP and the imminent launch of their first satellite, I extend my heartfelt congratulations to Anthony and the entire team on their exceptional achievements. Together, they prove that the sky is not the limit.”
Following completion of the round, Chalmers will be appointed to the Board, together with McCail. Camilla Taylor (Satellite Vu CFO), will join Anthony Baker on the Board, representing the company.