Kuva Space Series A: Funding AI Analytics and Hyperspectral Camera Platform

Kuva Space, the Earth observation company, has recently secured €16.6m in series A funding. The funding will be utilized to expedite the development of its patented hyperspectral camera, expand its team size, and launch its AI analytics platform.

Kuva Space has also expressed its intention to expand its presence in "key markets," starting with the United States. This move is expected to further enhance the company's reach and impact.

The funding round was led by existing investors Voima Ventures and Nordic Foodtech VC, with participation from Singapore-based Earth VC. Additionally, Finnish private investors contributed through a growth funding initiative with Springvest, along with non-equity funding from Business Finland.

One of the key strengths of Kuva Space lies in its microsatellites, which are equipped with a hyperspectral camera capable of distinguishing the molecular composition of various materials on Earth. This technology enables the company to monitor and analyze critical factors such as crop types, plant health, biomass, carbon sequestration, soil conditions, and seaweed growth.

Kuva Space plans to offer its commercial model as a near real-time monitoring tool through a subscription service. This will provide users with valuable insights and data on a regular basis.

Currently, Kuva Space already has three satellites in space. However, the company has plans to launch two new satellites in the upcoming year, along with its initial services. The first satellite, Hyperfield-1, is scheduled to be launched in June 2024. Additionally, Kuva Space intends to launch four Gen 2 microsatellites in the future.

The Hyperfield-1 satellite is a 6U CubeSat weighing 12kg, with a Ground Sampling Distance (GSD) of 25m. On the other hand, the Gen 2 microsatellite will be a 12U CubeSat weighing 24kg, with a GSD of less than 10m. Furthermore, the company plans to incorporate a propulsion capability into these satellites.

Overall, Kuva Space's recent funding success and expansion plans highlight the growing importance of Earth observation and the potential of its advanced technologies to revolutionize various industries.