Last week UrtheCast announced it had closed $6.6 million in financing with Vine Rose Limited and that Geosys, an UrtheCast company, had implemented the UrthePipeline technology with a new virtual constellation.
In a press release UrtheCast stated that the $6.6M in financing consisted “of a senior unsecured convertible debenture of the Company in the principal amount of $2,979,538 and a senior unsecured non-convertible debenture of the Company in the principal amount of $3,620,462.”
The company also announced that it had “agreed with Banco de Sabadell S.A., under its €25 million senior secured term loan dated December 11, 2015, to further defer a previously negotiated principal repayment of €1.5 million from August 31, 2019 to September 30, 2019.”
Lastly, Geosys said it had added the CBERS-4 (China-Brazil Earth Resources Satellite) satellite to the Geosys virtual constellation for customers in Brazil.
Geosys stated “the addition This latest addition to the Geosys virtual constellation is unique because it represents a joint effort with UrtheCast through the use of its UrthePipeline technology. The information captured by CBERS-4 is transformed into Analytics Ready Data through UrtheCast’s UrthePipeline service offering, then its integrated into our Image Processing Chain (explained in “Remote Sensing Brings Insights From the Filed, Up” on Our Technology page). From here, we are able to provide instantaneous access to a variety of maps and indices delivered through our Geosys APIs or Croptical® tool. “