Global investment boosts Space Intelligence's nature mapping initiative

Global investment boosts Space Intelligence's nature mapping initiative
by Sophie Jenkins
London, UK (SPX) Aug 27, 2024

Space Intelligence, a leader in high-precision nature mapping using satellite data, has announced the successful completion of its Series A funding round. The investment was led by new backers, AzurX Space Ventures (ASV), with participation from Intercontinental Exchange, Inc. (NYSE: ICE).

The newly secured funds will be directed towards expanding Space Intelligence's global database of forest mapping, aimed at supporting the development and financing of forest carbon projects. Additionally, the investment will enhance the company's ability to monitor environmental impacts across corporate supply chains.

"To address the dual climate and biodiversity crises, it's critical that investment in forest conservation and restoration scales through mechanisms such as the carbon markets and that compliance with legislation like the EU Deforestation Regulation is ensured," stated Dr. Murray Collins, co-founder and CEO of Space Intelligence. "Stakeholders across these initiatives need accurate, independent data on land and forest cover that they can trust."

Dr. Collins emphasized the importance of reliable data, noting that while satellite data is now plentiful, there remains a significant gap in accurate insights consistently available across different regions and timeframes. "We've built an audit-grade dataset by taking a science-led approach to mapping the world's forests, and this funding will help us accelerate the production of datasets across more regions and time periods," he added.

Space Intelligence was founded by Dr. Murray Collins and Professor Ed Mitchard, who together bring nearly four decades of experience in remote sensing and satellite data research. Under their leadership, the company has expanded to a team of over 50 professionals, including 20 mapping scientists and ecologists. Their data products are trusted by leading developers and investors involved in forest carbon projects worldwide.

Currently, Space Intelligence's nature data catalog covers 640 million hectares across seven countries, providing critical information on land cover, deforestation, and regrowth. By the end of the second quarter of 2025, the company plans to expand its dataset to encompass more than 35 additional countries, making it the largest audit-grade nature mapping dataset available. This ambitious expansion is powered by the company's integrated geospatial analysis and ecological expertise, bolstered by artificial intelligence.

The company is also poised to launch new data products by the fourth quarter of this year, enabling near real-time monitoring of deforestation and degradation, which will enhance risk management and monitoring capabilities.

"Investing in space-based technologies, particularly through innovative companies like Space Intelligence, is essential for harnessing the full potential of satellite data in addressing global environmental challenges," commented Anna Hazlett, co-founder and CEO of ASV, a UAE-based space and technology investor. "As space domain experts, we recognize the critical role these technologies play in driving sustainable development and providing high-accuracy insights for resource management and climate change mitigation."

Space Intelligence is a NatureTech company enabling zero deforestation and mass restoration of biodiverse forests globally by providing the highest quality nature mapping data.

ASV is the venture arm of AzurX, a leading entity in the Middle East's private space and satellite professional services sector. Founded by space-champion Anna Hazlett, AzurX collaborates with cutting-edge space companies, providing high-tech access and support for commercial and government space enterprises.