British startup SatVu has secured £20mn (€24mn) to fuel the development of its hyper-accurate thermal imaging satellites that act like a thermometer for the whole planet.
The cash injection includes £10mn (€12mn) in equity from Spanish VC Adara Ventures and British tech-focused fund Molten Ventures. The remainder comes from an insurance payout, the startup said.
The funding will propel the launch of two new satellites in its HotSat constellation, which are scheduled to liftoff next year. The probes — HotSat-2 and HotSat-3 — will replace HotSat-1, SatVu’s first satellite, launched in 2023.
When HotSat-1 launched it was fitted with the world’s highest-resolution, commercial thermal sensor. The camera, developed in collaboration with the European Space Agency (ESA), could deliver thermal data at a 3.5-meter resolution.
