Hydrosat raises $10M in seed funding.
It will build a satellite constellation for thermal infrared mapping and geospatial data analytics.
Washington-based Hydrosat has raised $15 million to date for satellites designed to monitor Earth’s water cycle, shedding light on environmental conditions like drought and flash floods exacerbated by climate change.
Hydrosat’s venture funding round was led by OTB Ventures. Participants include Freeflow Ventures, Cultivation Capital, Santa Barbara Venture Partners and Expon Capital.
“Earth’s freshwater resources are under stress brought on by the collision of climate change and population growth. Mega droughts, such as the one currently impacting the western and central United States lead to declines in crop yields. Meanwhile wildfires and environmental damage create further economic loss with devastating impact to human life.”
Hydrosat intends to gather data from a constellation of satellites to monitor surface temperatures globally. The company’s first satellite mission, VanZyl-1, which is “fully funded and is under construction,” is scheduled to launch with Loft Orbital in 2022, Fossel told SpaceNews by email.
With the additional seed funding, Hydrosat is developing commercial analytics products, which it plans to roll out before its first mission launches. In addition, the funding round will help Hydrosat expand its engineering, product and business development staffs, Fossel said.
Earlier this year, Hydrosat tested its first-generation thermal infrared imager on a stratospheric balloon. A second generation of the instrument is being built in Hydrosat’s lab, Fossel said.
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