Capella Space, a leading American satellite manufacturer and Earth observation company, announced it has closed $60 million in growth equity financing from the U.S. Innovative Technology Fund (“USIT”). Capella will leverage this growth capital to expand its imaging capacity and develop new data products as customer demand grows for its frequent, timely and high-quality SAR imagery and analytics capabilities.
Based in the U.S., Capella is revolutionizing the way that critical industries across the public and private sectors collect and analyze Earth observation data to make informed and accurate decisions. Its synthetic aperture radar (SAR) satellites can penetrate all types of weather conditions – clouds, fog, smoke, rain – to capture clear imagery day and night, delivering accurate and timely data about what is happening anywhere on Earth at any given moment. Coming off the heels of the company’s $97 million Series C financing in April, this follow-on round reflects the rapidly increasing demand for Capella’s end-to-end radar-powered, high-quality SAR imagery and analytics services.
Access to reliable, 24-7, high-quality Earth observation data has never been more critical as the world today faces intense geopolitical, environmental and humanitarian challenges. This funding will enable Capella to build and launch its next-generation Acadia satellites, which the company manufactures entirely in the U.S. at its facilities in California and Colorado. This new technology offers an enhanced design to deliver higher resolution and quality, increased imaging capacity and faster delivery capabilities for customers, many of which rely on Capella’s data to inform mission-critical decisions. The company will also expand its automated, intelligent advanced analytics offerings within the Capella Console, the company’s on-demand tasking platform, to continue delivering the highest quality, highest resolution SAR imagery with the fastest order-to-delivery time.
“Technological competitiveness is vital to our country’s future,” said Thomas Tull, Chairman of USIT. “Capella’s cutting-edge SAR technology allows us to have accurate, real-time information about what is happening on our planet, enabling decision-makers to more quickly make critical decisions about pressing geopolitical challenges. This work that they are doing is essential to the world’s future and I’m proud that we are able to support Capella and their mission to democratize and innovate space data.”
This year has proven to be one of the company’s strongest to date. Capella announced it has tripled revenue since 2021, with a twofold increase in imagery collected, and grown its headcount by more than 50% in 2022. Capella Space expects to grow even more in 2023 as the company doubles down on sales and marketing efforts and explores new business lines.
SOURCE: PR Newswire