Adara Ventures is a European venture capital firm that invests in ambitious businesses across sectors including cybersecurity, applied AI, data infrastructure, and the energy transition.
The British Business Bank contributed £5m to the £30m financing alongside several new and existing backers.
"SatVu has created a unique technology at a time of great demand for defence innovation. They have proved the strategic value of their technology so we are pleased to provide the funding that will help them to scale and win further contracts."
The seed round was led by Tensor Ventures to accelerate platform capabilities and go-to-market efforts.
"Enterprises have brilliant engineers spending the majority of their time maintaining the past instead of inventing what’s next. AppFactor changes that by turning software upkeep into an autonomous, closed-loop process. With the AppFactor Agentic Orchestration Platform handling maintenance, teams move much faster on the initiatives that grow the business."
The funding round forms part of a wider £20m financing package to accelerate the deployment of the HotSat constellation.
"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."
The financing round was led by Octopus Ventures with backing from both new and existing investors.
"Today, we’ve developed the world’s first Engineering-Grade AR solution helping construction teams identify errors in real-time, but really that’s just the start of our journey. The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history."