SkyWatch (Next Founders, 2016) has announced a $4 million funding round.
The Waterloo-based startup will use the new money to continue developing their aggregation and distribution platform designed for satellite data. The funding round 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 works out of the Communitech Data Hub.
The SkyWatch platform, which is called EarthCache, lets different companies integrate satellite observation data into their applications in a cost-effective way. The market for data and services relating to the observation of earth is a big market right now and will only grow over the next decade. There are plans for thousands of satellites to launch, and the projected growth for the market will jump from $3 billion USD in 2016 to $15 billion in 2026.