Space startup raises $50M for satellite-based climate change solutions

Space startup raises $50M for satellite-based climate change solutions

Open Cosmos Raises $50 Million to Protect Our Planet

Rafel Jorda Siquier, Open Cosmos founder and CEO

Space startup Open Cosmos has just secured $50 million in a recent funding round, propelling its mission to protect and preserve the Earth. The UK-based company leverages advanced technologies such as artificial intelligence (AI), sensors, and Earth Observation (EO) imagery to gather crucial data and insights into climate change.

Through their innovative satellite probes, Open Cosmos aims to shed new light on various environmental issues, including global temperatures, greenhouse gases, polar ice caps, sea level changes, natural disasters, and deforestation. This vast array of data can then be utilized by scientists and experts around the world to develop effective mitigation programs.

Open Cosmos CEO and founder, Rafel Jordá Siquier, firmly believes that sustainability lies at the heart of their company. According to him, space data plays a critical role in building a resilient and sustainable world, enabling us to better understand, predict, and react to various challenges. By providing detailed global views and advanced data visualization tools, Open Cosmos empowers organizations worldwide to make informed decisions and implement changes that will ultimately protect our planet.

Among Open Cosmos’ current satellites is Menut, which launched earlier this year aboard a SpaceX Falcon 9 rocket. Menut is specifically designed to monitor deforestation, wildfire impact, flooding, and coastal erosion. The success of this satellite has paved the way for Open Cosmos to plan the launch of five additional satellites by March 2024:

  1. PLATERO – This satellite will monitor the environmental impact of farming in Andalusia.
  2. IOD6 – It will utilize hyperspectral imagery to survey Atlantic coastal and maritime areas.
  3. MANTIS – This satellite will produce high-resolution images of logistics, energy infrastructure, and natural resources.
  4. ALISIO1 – ALISIO1 will make environmental observations in the Canary Islands, with applications including agriculture and disaster management.
  5. PHISAT2 – PHISAT2 is a cubesat equipped with six onboard AI applications that will process data in orbit.

To maximize the benefits and ensure seamless data sharing, these satellites will connect to the OpenConstellation, an open platform where organizations can access and share space data.

Menut

OpenConstellation is part of Open Cosmos’ end-to-end service, which encompasses satellite design, building, and operation. This comprehensive model aims to democratize access to space by reducing costs and simplifying processes that have traditionally limited space exploration. The company’s CEO emphasizes the importance of ensuring access to space data, as it bridges the gap between upstream and downstream sectors, thereby driving significant growth.

The appeal of Open Cosmos’ mission has attracted impact investors, as demonstrated by the recent €50 million Series B funding round. Notable investors include the Environmental Technologies Fund, Trill Impact, and the A&G Energy Transition Tech Fund. Analysts predict that the market for EO satellites will exceed $11.3 billion by 2031, indicating potential financial gains for investors.

However, Open Cosmos believes that stronger support from the public sector, particularly in the UK, is crucial to further fuel the innovative advancements in space technology. Government-funded projects can accelerate concept development and commercialization, fostering a rich ecosystem of innovation.

Open Cosmos’ commitment to protecting the planet and their innovative approach to space exploration pave the way for a more sustainable and resilient future. With their cutting-edge satellites, advanced technologies, and dedication to data sharing, Open Cosmos is poised to make a significant impact in mitigating the effects of climate change and safeguarding our planet for future generations.