Ursa Space Raises $16 Million in Series C Funding to Accelerate Time-to-Insight for Customers in the Satellite Intelligence Market

ITHACA, N.Y., March 21, 2022 /PRNewswire/ -- Ursa Space, the global satellite intelligence infrastructure company, announced the first close of its Series C Round with $16 million in funding led by Dorilton Ventures. Existing investors who participated in the round included Razor's Edge Ventures, RRE Ventures, Paladin Capital Group, and others.

Ursa Space will use the new investment to respond to a significant increase in customer demand for automated, scalable, analysis-ready satellite data. It will also expand its field sales organization to support newly emerging markets for earth observation data such as supply chain optimization, logistics, and insurance.

Across market verticals, even the most sophisticated organizations struggle to buy and use earth observation data. Ursa Space solves this problem by coordinating purchases from hundreds of satellites, giving customers access to multiple image resolutions, frequencies, and price points to suit their needs. Earth observation requires highly specialized software and skill to task, collect, process, and deliver insights. Ursa Space removes the challenges facing software developers, giving customers the reliability of a large satellite constellation, without the complexity of managing multiple satellites and imaging modes.

Through its radar satellite network and data fusion expertise, Ursa Space offers tools that surmount these challenges to help customers identify real-time changes in the physical world. Subscription and custom services enable customers to access satellite imagery and analytic results with no geographic, political, or weather-related limitations.

Ursa Space manages the world's largest Virtual Constellation of satellite imagery from the most trusted SAR, optical, and RF data vendors around the globe, containing over 10 million SAR images alone. Satellite-based SAR offers significant advantages over other forms of imagery due to its ability to collect information in all weather conditions, day or night.

This year, Ursa Space published a detailed Product Catalog outlining a full-range of capabilities, and developed a dedicated Partner Program with flexible business model options for analytics as a service, including provision of data analytic services on the Amazon Web Services (AWS) Data Exchange . With over 16 million images cataloged and growing each day, this database enables Ursa's expert solutions team to work with developers in multiple market verticals to solve real-world problems.

"Ursa Space was founded seven years ago with the goal of making satellite data more accessible to a broad range of people," said Adam Maher, co-founder and CEO. "I'm proud to say we've made tremendous progress toward this goal by eliminating many of the barriers that people faced when trying to get answers from satellite imagery. In its place, we're building the infrastructure that enables a community of developers to form and create new services that improves understanding of what's happening on earth."

"Ursa Space's ability to generate analysis-ready data quickly and at reduced cost has attracted demand from leading space industry players and end users," said Daniel Freeman of Dorilton Ventures. "This funding will enable the company to extend its technical lead whilst growing its sales team to help organizations across more sectors take advantage of earth observation data. Dorilton Ventures is incredibly proud to back Ursa Space."

For more information, visit ursaspace.com

About Dorilton Ventures
Dorilton is a private investment firm that invests in businesses across a range of industry sectors, working in partnership with management to grow value over the long-term. We provide funding and expertise to drive growth, allowing our companies to achieve their full potential.

About Razor's Edge Ventures
Razor's Edge is a multi-stage venture capital firm that invests in technology companies solving significant challenges in national security and high-growth commercial markets. In addition to providing capital to accelerate the pace of innovation, Razor's Edge offers direct and practical operational support informed by decades of collective experience in the national security sector. The Razor's Edge team works tirelessly to identify disruptive technologies and capabilities that can solve critical mission needs and deliver them to government and commercial customers who need them.

About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin focuses on companies with technologies, products, and services that meet the challenging global cyber security and digital infrastructure resilience needs for commercial and government customers.

About RRE Ventures
RRE Ventures is an early-stage venture capital firm headquartered in New York City. Since our founding in 1994 we have sought out and partnered with extraordinary entrepreneurs who seek to disrupt and transform industries. RRE manages over a billion dollars of capital across five funds investing across the United States and in select overseas geographies. Our operation is structured, from both a team and capital standpoint, to enable us to invest in early-stage companies while remaining active and participatory throughout the financing life of a venture.

SOURCE Ursa Space Systems