Satellite Vu raises funding for thermal building footprints

Seraphim, the London-based investment group that has a focus on the Space sector, has highlighted this is Satellite Vu’s second successful raise in the last six months, for a total of £19m.

Thermal imaging

Satellite Vu will specialise in the use of infrared and thermal imaging technology on its satellites, providing landlords, insurers and government agencies with access to real-time temperature data about the Earth’s built environment.

Its first satellite is currently being manufactured in Guildford, Surrey, and is due to be launched into orbit in October 2022.

The goal is that the data can be updated every 1 to 2 hours, and the use of infrared means coverage will be guaranteed even at night. For example, the data will be able to show if any individual building is being heated efficiently or which parts of a city are the worst emissions offenders.

The new funding will allow the company to launch seven British-made satellites into space, it says.

“This latest round of funding means we can look ahead to the launch of our first satellite in late 2022 and start the process of securing delivery slots for the remaining six,” said Anthony Baker, CEO of Satellite Vu (pictured).

Oversubscribed

Satellite Vu’s latest funding round was oversubscribed, and was led by the Seraphim Space Investment Trust Plc. Also investing was Draper Esprit, A/O PropTech, Ridgeline Ventures, Earth Science Foundation, E2MC Ventures and Stellar Solutions/Ford Family Trust.

Before this, back in April 2021, it raised a £3.6m (US$5m) seed round, which was also led by Seraphim.

“We have been committed to Satellite Vu for a number of years, first through our Accelerator programme and then through multiple investments. Our significant increase in investment shows the enormous promise that high resolution infrared satellite data holds in solving serious issues impacting the world,” said James Bruegger, Seraphim Investment Trust’s investment manager and CIO of Seraphim Space LLP.

“With 40% of all carbon emissions coming directly / indirectly from buildings, finding a way to pinpoint the worst energy wasting buildings at global scale is a pressing issue if the world is to achieve Net Zero. By measuring the thermal footprint of any building on the planet, Satellite Vu’s high resolution, high revisit infrared satellite constellation holds the key to resolving this.”

Satellite Vu

Satellite Vu has previously been backed by the UK Space Agency through its National Space Innovation Programme (NSIP) to support the build of the infrared sensor for its first satellite.

In June, the company was also chosen by Amazon to be among the first 10 startups to take part in its Amazon Web Services (AWS) Space Accelerator, which was organised in collaboration with Seraphim.

Image: NASA

See also: Seraphim backs Isotropic to unblock satellite comms bottleneck