SatVu secures £10m equity round co-led by Adara Ventures and Molten Ventures to finance satellite launches.
The funding round forms part of a wider £20m financing package to accelerate the deployment of the HotSat constellation.
SatVu operates a satellite network equipped with thermal imaging technology to deliver intelligence for defence and security applications. The firm is transitioning from a single spacecraft to a fully fledged multi-satellite constellation.
London-based climate technology provider SatVu has secured £10m in equity financing as part of a £20m strategic funding package that also includes insurance proceeds. The round was co-led by Adara Ventures and Molten Ventures, with participation from several existing backers including NOA, Lockheed Martin, Seraphim, Ridgeline, and Stellar Ventures.
The capital will be directed towards the construction and launch of the HotSat-2 and HotSat-3 satellites, scheduled to ship in 2025. These instruments are designed to expand the firm's constellation and deliver near real-time thermal intelligence for monitoring infrastructure, carbon emissions, and energy transition initiatives.
From the founder
"With the invaluable new support from Adara Ventures, alongside the continued backing of our existing investor network, we’re accelerating our mission to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action. The launch of HotSat-2 and HotSat-3 will bring us closer to a net-zero future by providing the data needed to address the most pressing environmental and energy challenges of our time."
Anthony Baker
Co-Founder and CEO at SatVu
Investor perspective
"We are thrilled to embark on this journey with CEO Anthony Baker and the SatVu team. By harnessing high-resolution thermal imaging technology to unlock previously inaccessible data, we believe SatVu is well-positioned to fuel a new generation of data applications across multiple use cases that monitor energy efficiency, economic activity, renewable generation, and beyond."
Alberto Gómez
Founding Partner, Adara Ventures
Use of funds
- 01Continue product development
- 02Fund research and development
Investors
Alberto Gómez
Adara Ventures
Molten Ventures
NOA
Lockheed Martin
Patrick McCall
Seraphim
Ridgeline
Stellar Ventures