Skybox Imaging Raises $70 Million

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[Techtaffy Newsdesk]

Skybox Imaging, an early-stage provider of satellite imagery, video, and big data analytics, has raised $70 million in Series C financing led by Canaan Partners and Norwest Venture Partners. They join existing investors Khosla Ventures and Bessemer Venture Partners, bringing the total amount raised to date to $91 million. Deepak Kamra, general partner, Canaan Partners, will also be joining the Skybox board.

Skybox plans to use the capital to complete development and launch of its first two high-resolution imaging microsatellites, SkySat-1 and SkySat-2, says the company. It will also use the funds to grow its team of software engineers and data scientists. SkySat-1 is slated to launch in fourth quarter of 2012 aboard an International Space Company (ISC) Kosmotras Dnepr rocket.

Deepak Kamra (General partner, Canaan Partners): Imaging satellites have the potential to deeply impact the day-to-day experiences of both businesses and consumers. Until now, only governments and militaries have been able to use the valuable data gained from analyzing these images.

Skybox Imaging (Skybox) is a commercial, remote sensing start-up. Founded in 2009 and backed by leading venture firms, the company is designing, manufacturing, and operating a coordinated constellation of microsatellites. Skybox is headquartered in Mountain View, California.

[Image Courtesy: Skybox Imaging]