SpaceSense raises 1 million euros to democratize satellite imagery in agriculture

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October 8, 2020

SpaceSense is very excited to announce the closing of a one million euros seed fundraising round with Techmind, Space Ventures Investors and Business Angels like Marc Batty & Thomas Cabrol, co-founders of Dataiku.

These funds will allow the development of their artificial intelligence platform for satellite imagery and to extend the team with 7 new hires.

Make satellite images simple and accessible through A.I.

SpaceSense is supported by multiple actors like 50 Partners, Ecole Polytechnique, the European Space Agency and CNES to achieve their objective, make insights from satellite images accessible to as many people as possible. The complexity of this type of data mixed with AI makes it’s analysis very delicate and accessible to very few companies. However these technologies, thanks to their global coverage, are vital to understand and fight climate change. So there is a gap between the possibilities available and the services that the farmers currently have. Through it’s platform, SpaceSense bridges this gap by simplifying the creation and deployment of AI models specifically designed to extract advanced insights from satellite images.

This need has been first identified by Jyotsna Budideti, co-founder and CEO of SpaceSense: “By working on different projects using satellite imagery, I noticed that regardless of the final use case of the analysis, a significant part of my job was always the same. There was a possibility to create a tool that would significantly reduce the duration and the complexity of these satellite imagery projects. This is SpaceSense’s goal. We position ourselves as a provider of ready-to-use satellite insights.

A solution that first targets the agriculture world

This platform’s ambition is to be used in several industries but will concentrate on Agriculture at first. “Agriculture is one of the domains which can benefit the most from satellite imagery” points out Sami Yacoubi, co-founder and CEO, “The legal and environmental challenges that farmers face push them to use advanced crop monitoring solutions. The satellite is the perfect compromise between accuracy and cost”. The platform offers to the users to customize their models for very diverse uses like yield prediction, soil humidity detection, crop health monitoring…

Partners at the crossroads between Space and Data

ESA and CNES, the European and French space agencies, help SpaceSense in its development: “SpaceSense managed to place itself on the automation and satellite data exploitation market in record times. Thanks to a powerful vision and a great team, they contribute today to prove that Space has a huge potential to serve our planet” indicates  Christelle Astorg-Lepine, Programme Manager de "Connect by CNES".

The arrival of experts at the board will allow the creation of an exceptional scientific committee, like shown with Thomas Cabrol, Dataiku’s co-founder & Chief Data Scientist: “The ready-to-use algorithms and models in SpaceSense’s solution have the potential to address today’s and tomorrow’s agricultural and environmental challenges, but also to other use cases. Their technology enables them to bring the benefits of artificial intelligence to the service of all”.

With these funds, SpaceSense will be able to recruit 7 engineers and doctors to accelerate its development and reach its ambition, democratizing Space intelligence.

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