Albedo has plans to design and operate a constellation of satellites that capture visible and thermal imagery at the highest resolution available and the company has announced a successful seed round that resulted in $10 million in funding to help meet their business and technology goals.
The firm’s mission is to be the catalyst in unlocking satellite imagery’s latent potential, with the goal of expanding current applications and propelling the discovery of new use cases. They stated that, whether their imagery is being used to reduce wildfire risk, assess the environmental impact of global forestry, contribute to timely 3D reconstructions of urban areas, or monitor carbon emissions from industrial power plants, their plan is to get better high-resolution data into the hands of decision makers… fast.
As a key step towards this goal, Albedo’s seed round was led by Initialized Capital, with participation from Liquid 2 Ventures, Soma Capital, Jetstream, Rebel Fund, and others.
In addition, Albedo’s angel investors have infused domain expertise and operating experience into the company and include… Keith Masback (former USGIF CEO), Tom Sheridan (Lt. General, USAF, Ret.), Kevin Mahaffey (Lookout co-founder), Daniel Kan (Cruise co-founder/CPO), Immad Akhund (Mercury co-founder/CEO), James Park (Fitbit co-founder / former CEO), and Harsh Patel (former Galvanize CEO).
This funding will be key in building out the company’s team of mission-driven experts, maturing their ground software and satellite design and partnering with hardware suppliers to start the development of Albedo’s first system.