Tag Archives: Spire

Cubesat company raises $80 million

The competition heats up: Spire, a cubesat satellite company focused on data gathering from space, has raised an additional $40 million in investment capital, bringing the total it has raised since 2012 to $80 million.

With the new funds, the company will support further growth and expand its constellation from 20 satellites in 2015 to more than 100 by the end of 2017.

The latest round of financing comes at a time when the need for advancements in weather and maritime data is at an all-time high. With the potentially catastrophic 2016 Weather Gap right around the corner, Spire offers a solution to the $2.4 trillion dollar global problem. Emerging as a leader in the ‘Space Race 2.0,’ Spire is the only commercial weather data provider with scheduled launches in 2015. The company will begin deploying its satellites on a near monthly basis beginning September 2015.

Though the company is willing to gather data in more ways than just weather, its offer to provide weather data suggests that the transition from government to private weather satellites is soon approaching. And there is no reason it shouldn’t. Weather data is very valuable. Just as private cable companies put up satellites to provide communications, so should weather outlets like the Weather Channel. It will pay for itself, and will likely provide us better data than any NOAA satellite.

In addition, this story indicates once again that the age of cubesats is now upon us.

Privately-built weather satellite constellation to be built

The competition heats up: A private company, dubbed Spire, has announced its intention to launch a 20-satellite constellation of weather satellites, all cubesats, by the end of 2015.

Spire raised $25 million in Series A funding during the summer of 2014, bringing its total amount to $29 million. The company already has customers in a variety of verticals, but Platzer said weather was planned to be a focus from the company’s inception.

…With the U.S. National Oceanographic and Atmospheric Administration (NOAA) facing an impending weather data gap, an increasing amount of focus has been placed on leveraging commercial options as well. Last year NOAA issued a Request for Information (RFI) on RO that piqued interest from the commercial sector. Congress has also urged the agency to leverage private sector capabilities.

For years I argued that there is no justification for the federal government to provide free weather satellite data to private companies like the Weather Channel. There is more than enough profit to be made tracking and predicting the weather for these companies to launch their own orbiting networks, just as the television and communications industries do. Thus, it is good to see a new start-up take advantage of this need and to push to make a business out of it.