AzurX Space Ventures and ICE Back Space Intelligence in Expanding Global Nature Mapping Dataset

Written by Copernical Team Friday, 23 August 2024 04:30

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London, UK (SPX) Aug 22, 2024

Space Intelligence, a leader in high-precision nature mapping using satellite data, has announced the successful closing of its Series A funding round. This round was spearheaded by new investors AzurX Space Ventures (ASV) and included participation from Intercontinental Exchange, Inc. (NYSE: ICE). The newly secured funding will be instrumental in expanding Space Intelligence's global fore

AzurX Space Ventures and ICE Back Space Intelligence in Expanding Global Nature Mapping Dataset
by Sophie Jenkins
London, UK (SPX) Aug 22, 2024

Space Intelligence, a leader in high-precision nature mapping using satellite data, has announced the successful closing of its Series A funding round. This round was spearheaded by new investors AzurX Space Ventures (ASV) and included participation from Intercontinental Exchange, Inc. (NYSE: ICE).

The newly secured funding will be instrumental in expanding Space Intelligence's global forest mapping dataset. The company aims to support forest carbon project development and monitor environmental impacts within corporate supply chains.

"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 compliance with legislation like the EU Deforestation Regulation is ensured," said Dr. Murray Collins, co-founder and CEO of Space Intelligence.

"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 enable confident decision-making and reporting. We've built an audit-grade dataset by taking a science-led approach to mapping the world's forests, and this funding will help us accelerate the production of datasets across more regions and time periods."

Space Intelligence, founded by Dr. Collins and Professor Ed Mitchard, boasts nearly 40 years of combined expertise in remote sensing and satellite data application. The company has grown to include over 50 employees, with 20 mapping scientists and ecologists on staff. Their datasets are trusted by major developers and investors in forest carbon projects globally.

Currently, Space Intelligence's dataset covers 640 million hectares across seven countries, providing detailed information on land cover, deforestation, and forest regrowth. By the end of Q2 2025, the company aims to expand its coverage to over 35 additional countries, making it the world's most extensive audit-grade nature mapping dataset. This growth is supported by a combination of geospatial analysis, ecological expertise, and artificial intelligence.

In addition, the company plans to launch new data products in Q4 of this year for near real-time monitoring of deforestation and land degradation, enhancing risk management capabilities.

"Investing in space-based technologies, particularly through innovative companies like Space Intelligence, is essential for harnessing the full potential of satellite data in addressing global environmental challenges," said Anna Hazlett, co-founder and CEO of ASV, a UAE-based space and technology investor. "As space domain experts, we recognize the critical role these technologies play in driving sustainable development and providing high-accuracy insights for resource management and climate change mitigation."