Hydrosat has announced $20 million in new funding, including a $15 million Series A round and more than $5 million in non-dilutive funding to aid in the growth and development of its constellation of satellites and analytics to measure water stress and climate impact.
This latest round of funding was led by Statkraft Ventures and included new investors Blue Bear Capital and Hartree Partners, all three firms focusing on climate tech. This round included participation from OTB Ventures, Freeflow Ventures, Cultivation Capital, Techstars, Santa Barbara Venture Partners, Expon Capital, and Hemisphere Ventures.
In recent years, moisture stress accelerated by climate change has disrupted our global food supply. Extreme weather events like megadroughts, wildfires, major storms, and flooding threaten both communities and the economy. Effectively monitoring these threats through thermal infrared data has been limited due to infrequency and coarse image resolution.
Hydrosat delivers the only continuous thermal monitoring capability that provides frequent and high-resolution data to track water stress events as they occur. Real-time imagery data provides government agencies, agribusiness, insurance companies, and emergency response teams the critical insights they need to respond in real-time.
The new funding brings Hydrosat’s total funding to date to over $35 million. Since Hydrosat’s initial funding announcement in 2021, the company has demonstrated sustained growth and industry-leading service temperature data sets.
Recently, Hydrosat secured a license agreement with NOAA to operate a private, remote sensing, space system and signed a $1.2 million contract through AFWERX, the innovation arm of The Department of the United States Air Force, to adapt its surface temperature data to the mission needs of the National Air and Space Intelligence Center (NASIC).
Hydrosat also piloted a proprietary Crop Yield Forecast with an exclusive set of users that include Fortune 500 agriculture and food processing companies in the United States and Europe and outperformed the accuracy rates of commercial yield forecasts to demonstrate how infrared imagery and machine learning deliver an advantage.