Less than a week after announcing the launch of the first TerraStream enabled satellite, SkyWatch today announced it had completed its Series B round of founding and raised US$17.2 million (CAD$21M).
Drive Capital was the investment round lead which included participation from SkyWatch existing investors Bullpen Capital, Space Capital, Golden Ventures, and BDC Ventures.
SkyWatch, a private company stated in a press release that “the Series B financing builds on an exceptional first half of 2021 for SkyWatch, which is seeing revenue growth in excess of 450% over the same period last year, highlighting the appetite for Earth observation data from the private sector.”
SkyWatch also stated that it now has “40 satellites under contract for launch by SatRevolution (Poland), SpaceJLTZ (Mexico), and Wyvern (Canada), and others” that will be using TerraStream.
“Over the past couple of years, SkyWatch has built key enabling technologies for the future of Earth Observation capture and distribution, through the EarthCache and TerraStream platforms. Today, we are excited to announce that we’ll be able to scale that technology globally, to both consumers and providers of satellite data, with the closing of our Series B financing,” said James Slifierz, SkyWatch’s CEO and co-founder. “We’re thrilled to welcome Drive Capital, a firm with deep experience in scaling technology companies, to the SkyWatch team. We’re also happy to have the continued support from our earliest investors, who continue to believe in our ambitions to change the Earth Observation industry.”
“Space privatization is leading to an entirely new infrastructure in the sky,” said Nick Solaro, Partner at Drive Capital. “As with platform shifts in the past, like the Internet, this infrastructure will yield new categories of world-changing companies. We believe SkyWatch is one of them.”
SpaceQ will have SkyWatch CEO James Slifierz as our guest on an upcoming episode of the Space Economy podcast.