Planet Labs, a startup that aims to send shoebox-sized satellites into space to capture images of earth at an extensive level, has raised $52 million in series B funding.
The startup will be sending a total 28 satellites in its first flock (Flock 1) by early next year.
These small satellites, dubbed Doves, will send back high-resolution images of our planet. The cofounders of the company believe that the images shot would be useful in tracking deforestation and environmental changes patterns of Earth more deeply.
Planet Labs has already launched four of its Doves into relatively low orbit of earth. Once the bunch of 28 "Doves" get launched, the startup will focus on business applications for the image data received. The cofounders said the next step after the launch will be automation of the entire process and then focusing on specific client use. The potential customers for Plant Labs are various energy companies and financial institutions.
The new round of funding was led by Yuri Milner, the Russian billionaire who invested early in major tech giants like Facebook, Twitter, and Chinese e-commerce giant Alibaba. "Planet Labs is revolutionizing the spacecraft sector," said Milner. "Its passionate and high performance team is utilizing elegant science and sophisticated technology in pushing the boundaries of what was thought to be possible in satellite manufacturing and deployment," he added.
Since its inception in 2010, Planet Labs has raised around $65 million to date.
