Open Cosmos Raises $50 Million for Satellite Data Solutions

Open Cosmos, a space technology company, has announced that it has raised $50 million in funding. The company specializes in the development of satellites that gather data to address global challenges, such as climate change, humanitarian disasters, and resource management.

Open Cosmos aims to simplify and democratize access to space and space data by providing end-to-end telecommunications, Earth Observation (EO), navigation, and scientific missions. The company offers access to data through its OpenConstellation infrastructure and utilizes AI-powered data analysis to provide insights.

By adopting this approach, Open Cosmos reduces mission costs, complexity, and timelines, making satellite data accessible to a broader range of companies and organizations. This includes non-space customers who can contribute to solving critical societal issues.

Satellite data has become a valuable resource for companies around the world. With the integration of AI technology, satellites can measure greenhouse gases, monitor global temperature trends, and assess polar ice caps, sea levels, and ocean currents. They also provide enhanced coverage of forests to detect deforestation and play a crucial role in assessing and coordinating relief efforts during natural disasters. Additionally, satellites equipped with specialized sensors can detect and monitor oil spills before they become visible from the ground.

Satellite data can address 60% of the 54 essential climate variables, with 21 requiring long time series and global coverage that only satellites can provide. As a result, the EO satellite market is projected to reach a value of $11.3 billion by 2031.

With the recent funding, Open Cosmos is well-positioned to further advance its mission of allowing organizations to harness the power of satellite data to tackle pressing global challenges.