Waterloo-based SkyWatch has raised $4 million to continue development of its aggregation and distribution platform for satellite data.
SkyWatch is currently negotiating distribution rights with more than 30 satellite operators.
The funding was led by Sinai Ventures and Space Angels, with participation from Golden Venture Partners, Techstars Ventures, SK Ventures, Globalive Capital, and ARC Angel Fund. SkyWatch’s EarthCache platform allows companies to integrate Earth observation satellite data into their applications, while allowing satellite operators to distribute data to new and previously underserved markets.
In October 2017, the company raised $50,000 from Communitech Rev Demo Day.
“Because Earth observation data has the potential to positively impact everyday life in so many ways, everyone should have the ability to easily incorporate this unique data type into their software applications. However, the barriers have been far too high, until now,” said James Slifierz, SkyWatch’s CEO and co-founder. “SkyWatch was started with this vision and we’ve spent the past three years developing our platform alongside our early adopters. Satellite data integration into any software application is now as easy as payments integration via Stripe, or communications integration via Twilio. We’re excited for the tremendous growth ahead, for both the company and the industry.”
The company plans to use the funding for strategic hiring, accelerate product development, and building partnerships. SkyWatch is currently negotiating distribution rights with more than 30 satellite operators to service customers across agriculture, energy, finance, infrastructure, market intelligence, and other industries.
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