Orbital Insight, a Mountain View, CA-based a Geospatial Big Data company, raised $8.7m in Series A funding.
The round was led by Sequoia with participation from Bloomberg Beta, Google Ventures, citizen.vc and Lux Capital. In conjunction with the funding, Sequoia’s Dr. Bill Coughran joined Orbital Insight’s board.
The company intends to use the funds to hire engineers to build out new data product lines.
Led by Founder Dr. James Crawford, Orbital Insight focuses on creating market intelligence for decision makers and investors in a wide range of industries. It uses expertise in image processing, neural networks, machine learning, and statistical analysis to obtain insights from satellite images for a diverse body of customers, including hedge funds, real estate developers, insurance companies, government agencies, and international development and environmental non-profit organizations.
So far, the company has developed data products that forecast end-of-season crop harvest based upon mid-season spectral analysis and quarterly retail performance based upon counting cars in parking lots, as well as measure the rate of construction in China’s real estate sector and the fluctuations in global crude oil inventories months ahead of similar figures reported by other organizations.
Orbital Insight is hiring.