Albedo raises $35m to commercialize Very Low Earth Orbit (VLEO)

Albedo raises $35m to commercialize Very Low Earth Orbit (VLEO)

Published: 25-01-2024 15:22:00 | By: Pie Kamau | hits: 2448 | Tags:

Albedo, the first company to offer aerial quality imagery from space - enabled by the new orbit frontier of VLEO (very low earth orbit), has raised $35 million Series A-1 financing round led by Standard Investments, bringing the company’s total funding to $97M.

Participation in the round included new investors Booz Allen Ventures, Cubit Capital, and Bill Perkins, along with existing investors Breakthrough Energy Ventures, Shield Capital, Initialized Capital, Y Combinator, Giant Step Capital, Republic Capital, and other undisclosed participants. In addition, Ben Sampson, Managing Director of Standard Investments, will join the Albedo Board of Directors.

Topher Haddad, CEO, Albedo: ''The Series A-1 funding will be used to launch Albedo’s first operational satellite and accelerate constellation deployment - ultimately proving out and proliferating the world’s first high-res VLEO platform. We were fortunate to raise this round at a step-up valuation from some of the top investors in our category. As geopolitical tensions rise and we approach an irreversible climate change tipping point, the need for innovative dual-use technologies is crucial in sustaining a safe global environment.''

Albedo’s mission is to provide commercial and defense users with ultra-high resolution satellite imagery to see details with clarity and then act with certainty. By rethinking the traditional approach to earth observation satellites, namely developing a stable, agile platform to operate at very low altitudes, Albedo is able to collect data at an exquisite quality with cost-effective, mid-sized satellites. The constellation under development will co-collect native 10 centimeter (cm) optical imagery and 2 meter thermal infrared imagery, the same resolutions that can only be obtained today by drones/planes, but now at a global scale with on-demand coverage at high frequency.

Ben Sampson, Managing Director, Standard Investments: ''Standard invests in disruptive industrial technologies, and the new orbit frontier of VLEO will open up a wide variety of exciting opportunities around enhanced imagery and data collection, which is a key unmet challenge in modernizing industry and infrastructure. We’re proud to partner with Albedo on their mission to scale aerial-quality data collection from space.''

www.albedo.com