Skybox Imaging just closed a massive $70M Series C round led by Canaan Partners and Norwest Venture Partners. Michael Arrington’s CrunchFund got in on the action as well. The new investors join Khosla Ventures and Bessemer Venture Partners and brings Skybox Imaging’s total amount raised to $91 million.
The latest round of financing will allow Skybox to launch its first two high-resolution imaging microsatellites, dubbed SkyStat-1 and SkyStat-2. Eventually other microsatellites will join these two as Skybox surrounds the Earth with imaging satellites. It’s the company’s goal to provide high-resolution imagery of any spot on earth multiple times per day.
The additional funds will also help Skybox hire new talent. The company is currently looking to hireengineers, operation managers and satellite technicians.
“We will also use this capital to expand strategic alliances, position Skybox for initial commercial operations, and to accelerate the development path towards the full constellation of microsatellites,” said Skybox CEO Tom Ingersoll in a statement released to TechCrunch.
The first two satellites are set to launch in the fourth quarter of 2012 aboard an International Space Company Kosmotras Dnepr rocket. Eventually Skybox Imaging claims its constellation of satellites will be able to provide much more up-to-date imagery including high-definition video. I for one welcome our new satellite overlords and look forward to the day that I can inspect the grass in my front yard with a livestream from space.
Source:http://techcrunch.com/2012/04/17/skybox-imaging-closes-70m-in-series-c-funding-with-immediate-plans-to-lauch-two-high-res-imaging-microsatellites/
The latest round of financing will allow Skybox to launch its first two high-resolution imaging microsatellites, dubbed SkyStat-1 and SkyStat-2. Eventually other microsatellites will join these two as Skybox surrounds the Earth with imaging satellites. It’s the company’s goal to provide high-resolution imagery of any spot on earth multiple times per day.
The additional funds will also help Skybox hire new talent. The company is currently looking to hireengineers, operation managers and satellite technicians.
“We will also use this capital to expand strategic alliances, position Skybox for initial commercial operations, and to accelerate the development path towards the full constellation of microsatellites,” said Skybox CEO Tom Ingersoll in a statement released to TechCrunch.
The first two satellites are set to launch in the fourth quarter of 2012 aboard an International Space Company Kosmotras Dnepr rocket. Eventually Skybox Imaging claims its constellation of satellites will be able to provide much more up-to-date imagery including high-definition video. I for one welcome our new satellite overlords and look forward to the day that I can inspect the grass in my front yard with a livestream from space.
Source:http://techcrunch.com/2012/04/17/skybox-imaging-closes-70m-in-series-c-funding-with-immediate-plans-to-lauch-two-high-res-imaging-microsatellites/
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