Open Cosmos, a leading smallsat developer, has announced that it has raised an impressive $50 million in its recent Series B funding round. The funding was led by ETF Partners, Trill Impact, and A&G, with participation from other investors.
The company plans to utilize the funds to expand its operations internationally and to develop larger satellites and constellations that focus on Earth observation. Open Cosmos aims to enhance its satellite offerings, moving from cubesats to larger spacecraft and constellations.
One of the notable projects that Open Cosmos is currently working on is DataCosmos, a satellite data analytics platform. This platform aims to provide valuable insights to businesses and organizations by analyzing satellite data.
Additionally, the funding will enable Open Cosmos to delve into microsatellites and support the development of OpenConstellation, a shared satellite infrastructure. This infrastructure will allow for increased collaboration and efficiency within the field of satellite technology.
Open Cosmos has earned recognition in the Earth observation sector for its cost-effective and fully managed missions. The company’s approach to collecting Earth observation data has attracted investors, who see the potential for profitable returns on their investment.
Prior to the Series B round, Open Cosmos had already secured $7 million in funding since its establishment in 2015. The company’s revenues have experienced significant growth, doubling annually since 2020. Moreover, Open Cosmos has achieved positive earnings before interest, taxes, depreciation, and amortization since 2021.
The successful funding round and Open Cosmos’ impressive financial performance demonstrate the company’s potential to revolutionize the satellite technology industry. With expanded resources and the development of innovative projects, Open Cosmos is well-positioned to make a significant impact on Earth observation and satellite technology as a whole.
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