Albedo Raises $48M in Series A Funding

albedo

Albedo, an Austin, TX-based company developing low-flying satellites that will deliver ultra high resolution images, raised $48M in Series A financing.

The round, which brought total funding to $58M, was co-led by Breakthrough Energy Ventures and Shield Capital, with participation from new investors Republic Capital, Giant Step Capital, and C16 Ventures, and with existing investors Initialized Capital, Joe Montana’s Liquid 2, Kevin Mahaffey, and other undisclosed participants.

The company intends to use the funds to complete development of its first satellite and develop the software to support satellite operations and deliver imagery to users.

Led by Topher Haddad, co-founder and CEO, Albedo is developing very-low-earth-orbit (VLEO) satellites that will co-collect 10 centimeter (cm) optical imagery and 2 meter thermal infrared imagery. The resolution of imagery will enable applications that have been limited by lower resolution satellites or operational limitations of imagery collected from planes. The commercial applications for Albedo’s imagery spans markets including precision agriculture, HD mapping, property insurance, utilities vegetation management, construction and real estate, pipeline monitoring, urban planning, and many others. By offering new products that combine the two types of images together, additional insights can be extracted for these markets including temperature differences, moisture measurements, energy efficiency, and activity indication.

FinSMEs

07/09/2022