LatAm List – Satellogic, an Argentinian startup that offers access to high-resolution, high-frequency satellite data, recently announced a new funding round of $50M led by Tencent, Pitanga, and the Inter-American Development Bank (IDB).
Satellogic is the first company to develop a scalable Earth observation platform that can remap the entire planet using low-orbit satellites. The company aims to democratize access to space-based technology and help farmers and governments better predict outcomes based on real-time satellite data.
“We’re excited to support Satellogic’s mission of democratizing access to geospatial analytics solutions, such as monitoring crop growth and preventing the spread of plagues in agriculture,” comments Tomás Lopes Teixeira, Senior Investment Officer at IDB Lab.
Satellogic will use the funding to accelerate the growth of the platform throughout the region and further develop its technology.
“At IDB Lab, our mission is to leverage innovation towards inclusion in Latin American and the Caribbean,” Teixeira added.
The startup had also recently announced a $38M Dedicated Satellite Constellation (DSC) agreement with ABDAS to provide access to satellite data that will provide high-resolution geospatial insights to help monitor agriculture and inform government policy in the Henan Province in China.
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