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constellr Secures New Funding to Springboard US Expansion Following Substantial Market Demand from North America

Screenshot 2023-07-26 at 00.43.27

constellr Secures New Funding to Springboard US Expansion Following Substantial Market Demand from North America

Brief:

  • Following substantial demand after launch of Early Access Programme, constellr expands its operations to North America to secure place in emerging thermal data market.
  • After solidifying its market presence in Europe and expanding into Brazil earlier this year, constellr secures additional funding to close its EUR 17 million (US $18.79 million) seed round, bringing onboard Karista and Einstein Industries Ventures.

PRESS RELEASE — Brussels & Freiburg & Munich / July 24, 2023 — constellr, a pioneer in space-based temperature, water, and carbon measurement for the agricultural sector, secures further investment to extend its seed round to a total of EUR 17 million. Karista leads the funding extension, with participation from Einstein Industries Ventures alongside existing investors FTTF, Lakestar, Vsquared, Amathaon Capital, Natural Ventures, OHB Ventures and EIT Food. The investment will be used to help accelerate the deployment of constellr’s new generation of thermal satellites and to meet growing demand among its US customers.

“Investing in constellr is a unique opportunity for us to be at the forefront of a SpaceTech revolution that deeply transforms terrestrial industries, including agriculture and climate-related concerns. Thanks to this additional fundraising and its unique management team execution capabilities, constellr will reinforce its leading position in Europe and accelerate and expand its commercial footprint globally, especially addressing substantial market demand from the US.” Michael Thomas, Investment Director at Karista.

constellr launched its first system into space last year and has since been able to secure first major agrifood and institutional customers for its land surface temperature data product, celestr. With the company’s first fully commercial HiVE (High-Precision Versatile Ecosphere Monitoring) satellite due to launch in 2024, early customers are already able to sign up via an Early Access Programme to reserve access to the company’s high resolution data service at preferential rates.

The company is capitalizing on the market demand for its unprecedented accuracy, parcel-level resolution, and high frequency land surface temperature data, already experienced from both Brazilian and US markets. constellr’s recent entry to the Copernicus Programme as a contributing mission, opens the door to servicing thousands of institutional customers across Europe. This provides a strong platform from which to springboard into the US and address the booming market for climate services, agricultural insurance and data solutions to address food and water security.

“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. 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,” said constellr’s CEO, Dr. Max Gulde.

For constellr media enquiries, please contact [email protected]

For Karista media enquiries, please contact [email protected] |+33 6 50 61 55 71

For Einstein IV media enquiries, please contact [email protected]

SOURCE: constellr

Featured image: Credit: constellr