constellr, a pioneering company in space-based temperature, water, and carbon measurement for the agricultural sector, has successfully secured additional funding, extending its seed round to a total of EUR 17 million. The funding extension is led by Karista, with participation from Einstein Industries Ventures, along with existing investors FTTF, Lakestar, Vsquared, Amathaon Capital, Natural Ventures, OHB Ventures, and EIT Food. This substantial investment will accelerate the deployment of constellr's cutting-edge thermal satellites and meet the growing demand among its customers in the United States.
The investment in constellr presents a unique opportunity for investors to be at the forefront of a SpaceTech revolution that will profoundly transform terrestrial industries, particularly agriculture and climate-related concerns. With the additional funding and the expertise of its exceptional management team, constellr is poised to strengthen its leading position in Europe and rapidly expand its commercial presence on a global scale, addressing significant market demand, especially from the US.
Last year, constellr successfully launched its first system into space and has since secured major agrifood and institutional customers for its innovative land surface temperature data product, celestr. The company's first fully commercial HiVE (High-Precision Versatile Ecosphere Monitoring) satellite is scheduled to launch in 2024, and early customers can already reserve access to the company's high-resolution data service through an Early Access Programme at preferential rates.
constellr's unparalleled accuracy, parcel-level resolution, and high-frequency land surface temperature data have already garnered strong market demand, particularly from Brazilian and US markets. Recently, the company joined the prestigious Copernicus Programme as a contributing mission, opening doors to serving thousands of institutional customers across Europe. This strategic move provides an excellent foundation to expand into the US and address the surging market for climate services, agricultural insurance, and data solutions to tackle food and water security challenges.
Dr. Max Gulde, CEO of constellr, emphasized that their approach to building the most precise layer of thermal imaging data will drive a paradigm shift in how the global agricultural sector adapts to the impacts of an evolving climate. The endorsement from renowned investors like Karista, who will drive constellr's entry into the French market, and Einstein, with their deep space industry expertise, further validates constellr's pioneering solution.
With the additional funding, constellr is poised to accelerate its mission to revolutionize agriculture and climate-related industries, providing invaluable data solutions that address critical environmental challenges and enhance global food and water security. As constellr's global footprint expands, the world can look forward to a more sustainable and resilient agricultural future, aided by cutting-edge space-based technology.