Orbital Insight Raises $50 Million in Series C Funding Led by Sequoia
Orbital Insight, a startup that uses satellite imagery and other data to generate analytics for businesses, announced that it has closed a $50 million Series C funding round led by Sequoia. The new investment brings the company’s total funding to $78.7 million.
Orbital Insight’s technology leverages deep learning algorithms to analyze satellite imagery and derive insights for various industries. The company has demonstrated its ability to predict revenue for businesses by analyzing factors like car count in retail parking lots.
The investment from Sequoia underscores the significant potential of the geospatial analytics space, which has gained traction due to its applications in the hedge fund industry and other sectors. The funding will enable Orbital Insight to expand its engineering and sales teams, as well as explore international expansion opportunities.
This round also saw participation from new investors Envision Ventures, Balyasny Asset Management, Geodesic Capital, ITOCHU Corporation, and Intellectus Partners. Previous investors GV, Lux Capital, and CME Ventures also participated in the round. The diverse group of investors indicates Orbital Insight’s ambition to expand its reach across global markets.
