London-based climate tech firm SatVu is set to announce a £10m funding round this week, alongside a £10m insurance payout.
The fresh investment, led by Molten Ventures and Adara Ventures, will accelerate SatVu’s mission to provide detailed carbon emissions data to industrial customers. Adara’s investment marks the inaugural deployment of its new energy fund, focused on pioneering clean energy technologies.
SatVu’s innovative thermal imaging technology enables it to monitor heat loss from buildings globally, providing valuable insights for sectors such as construction and defence. The company’s first satellite constellation, launched in June 2023 with SpaceX, has already begun collecting critical data.
The additional funding will support the launch of two more satellites next year, further expanding SatVu’s capabilities and solidifying its position as a leading player in climate technology.
Anthony Baker, co-founder and chief executive of SatVu, said the new funding would accelerate the company’s ability “to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action”.
He claimed: “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.”
This story originally appeared on Sky News: https://news.sky.com/story/climate-tech-specialist-satvu-hots-up-with-10m-funding-round-13261607
Image source: SatVu
