Kuva Space series A to fund AI analytics platform and hyperspectral camera

Kuva Space, the Earth observation company, has raised €16.6m in series A funding. It will be used accelerate the development of its patented hyperspectral camera, double its team size, and launch its AI analytics platform.

Kuva also says it plans to expand its presence in “key markets” beginning with the United States.

The funding round was led by existing investors Voima Ventures and Nordic Foodtech VC, with Singapore-based Earth VC also participating. Finnish private investors were also included, through a Finland-based growth funding initiative with Springvest and non-equity funding from Business Finland.

Spectral signatures

The Finnish company can distinguish the molecular composition of nearly any material on Earth with its microsatellites, which use the embedded hyperspectral camera to detect distinct spectral signatures. It means the company can monitor things like crop types, plant health and biomass, carbon sequestration, soil conditions and seaweed growth…

Kuva Space’s commercial model will be provide a near real-time monitoring tool as a subscription service.

Kuva Space

With three satellites already in space, Kuva Space will launch two new satellites in the coming year and launch its initial services. The first one, Hyperfield-1, is scheduled to launch in June 2024. It will also be launching four Gen 2 microsatellites in the future, it says.

The Hyperfield-1 is a 6U CubeSat weighing 12kg, with a GSD (Ground Sampling Distance) of 25m. The Gen 2 microsatellite will be a 12U CubeSat weighing 24kg with a GSD of less than 10m. A propulsion capability is also expected to be added.

See also: Kuva Space eyes hyperspectral data services Copernicus contract