SatVu receives major funding to advance thermal imaging capabilities

SatVu receives major funding to advance thermal imaging capabilities
by Sophie Jenkins
London, UK (SPX) Nov 29, 2024

SatVu, a prominent climate technology innovator, has secured Pounds 20 million in funding to propel its advanced high-resolution thermal imaging technology. The funding consists of a Pounds 10 million equity round led jointly by Adara Ventures and existing backer Molten Ventures, alongside an insurance payout.

This investment marks the debut of Adara Ventures Energy Fund, dedicated to supporting transformative technologies that facilitate Europe's energy transition.

SatVu has already made significant strides in earth observation with its HotSat constellation. HotSat-1, launched in June 2023, introduced 3.5-meter resolution thermal data, setting new standards for monitoring carbon emissions and energy activities globally.

The new funding will fast-track the development and deployment of HotSat-2 and HotSat-3, scheduled for launch in 2025, delivering near real-time thermal insights critical to infrastructure monitoring, economic analysis, and climate resilience efforts.

Anthony Baker, CEO and Co-founder of SatVu, emphasized the impact of this support: "With the invaluable new support from Adara Ventures, alongside the continued backing of our existing investor network, we're accelerating our mission to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action. The launch of HotSat-2 and HotSat-3 will bring us closer to a net-zero future by providing the data needed to address the most pressing environmental and energy challenges of our time."

Adara Ventures' Founding Partner, Alberto Gomez, highlighted the potential of SatVu's innovations: "By harnessing high-resolution thermal imaging technology to unlock previously inaccessible data, we believe SatVu is well-positioned to fuel a new generation of data applications across multiple use cases that monitor energy efficiency, economic activity, renewable generation, and beyond."

Patrick McCall, Venture Partner at Seraphim, added: "At Seraphim, we're proud to support SatVu as they redefine Earth observation with their groundbreaking thermal imaging technology. Building upon the insights gained from HotSat-1, the launches of HotSat-2 and HotSat-3 will offer extraordinary high-resolution thermal data. This advancement will redefine our understanding of energy production, infrastructure activity, and emission dynamics - informing critical decisions as the world strives towards net-zero. To achieve transformative climate action, we must be guided by the data. SatVu's technology provides the essential intelligence our planet requires, paving the way for a sustainable future."

SatVu's thermal imaging innovations are unlocking new opportunities for applications in climate resilience, economic monitoring, and national security. By providing critical insights, the company is equipping industries and governments with actionable intelligence to drive progress toward sustainability.