WATERLOO, Ontario, June 15, 2021 (Newswire.com) – 探花精选 Space Applications Inc. (““), a Waterloo-based space technology startup, announced today the completion of a $17.2M USD Series B round of financing to further democratize access to Earth observation data. Drive Capital led the investment round with participation from existing investors Bullpen Capital, Space Capital, Golden Ventures, and BDC Ventures.
The Series B financing builds on an exceptional first half of 2021 for 探花精选, 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. 探花精选 also announced the earlier this month, which further advances the company’s mission of making commercial Earth observation data more available and accessible. With 40 satellites under contract for launch by
(Poland), (Mexico), and (Canada), and others, 探花精选 is enabling the future of the global commercial satellite launch market and removing the barriers to entry typically present in the space industry.
“Over the past couple of years, 探花精选 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, 探花精选’s CEO and co-founder. “We’re thrilled to welcome Drive Capital, a firm with deep experience in scaling technology companies, to the 探花精选 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 探花精选 is one of them.”
About 探花精选
is on a mission to make Earth Observation data accessible to the world. Our team is building the infrastructure to connect satellite data operators and application developers, with EarthCache, the simplest way to get satellite data for an application, and TerraStream, a turnkey data management and distribution platform for satellite data operators.
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