Space Intelligence Closes Funding Round – Partners With AzurX Space Ventures and Intercontinental Exchange Inc. (ICE)

Space Intelligence have closed their Series A funding round after raising funds through the AzurX Space Ventures and further investment partners.

Funding Round and Investors

Exact figures have not been mentioned in a press release from the Edinburgh-based data and insights brand. 

The funding has been led by AzurX Space Ventures (ASV), a strategic consultancy and investor in space-based technologies, and Space Intelligence also received funding from Intercontinental Exchange (ICE), the global financial data and technology company. ICE operates exchanges around the world, including the New York Stock Exchange.

The funding has already been allocated and the plans of Space Intelligence announced. It will be used to help to expand Space Intelligence’s mapping insights on global forest cover and help them to develop forest carbon projects improving impact monitoring.

Co-founder of Space International Dr. Murray Collins spoke about the crucial nature of the investments in these markets.

“To address the dual climate and biodiversity crises, it’s critical that investment in forest conservation and restoration scales through mechanisms such as the carbon markets and that rigorous compliance with rapidly emerging legislation like the EU Deforestation Regulation is ensured,”

“Stakeholders across these initiatives need accurate, independent data on land and forest cover that they can trust. While satellite data is now abundant, there is a significant lack of accurate insights consistently available across space and time that enables confident decision-making and reporting.”

Vision and Goals

Space Intelligence has the overall ambition of achieving zero deforestation and mass reforestation and in order to make a difference in this environmental field, the company provides accurate data on forest coverage and how it has been impacted. Insights on carbon storage and forest coverage help to provide information that can drive future decisions and solutions to deforestation.

Space Intelligence’s expertise in geospatial data analysis and ecology are also combined with machine learning for complex modelling and accurate depictions of future possibilities. Tools like CarbonMapper support “nature-based solution developers in maximising the carbon credits earned through projects by reliability measuring the carbon stocks in a project area.”

With a new influx of funding, Space Intelligence will be better prepared to provide the intricate modelling demanded by industry today.