Dauria Aerospace, a Munich, Germany-based global satellite services company that manufactures micro and nano satellites and develops machine-to-machine wireless communication and earth observation technologies, raised $20m in Series B funding.
The backer was I2BF Global Ventures, a global technology investment firm.
The company intends to use the funds for working capital to serve existing contracts, technology development and new satellite platforms.
Founded in 2011 and led by Mikhail Kokorich, President, Dauria Aerospace develops and manufactures low cost, small satellites.
Based on its technologies, the company is planning to deploy constellations of various earth observation and communications satellites to provide frequent vegetation monitoring for precision farming, traffic management, dynamic urban management and polar broadband services.
The company also has facilities in Skolkovo, in Russia, and in Moffett Field, in California.