Planet Labs raises $52 million
Planet Labs is a startup that offers universal access to information about the planet. Planet Labs will operate the largest fleet of Earth imaging satellites to frequently image the plant and provide open access to that information.
Planet Labs is getting ready to launch the largest constellation of Earth-imaging satellites into orbit with 28 of them being launched into space next month. Planet Labs has raised $52 million in a new round of funding to build their team and technology.
This new round of funding was led by Yuri Milner with participation from new investors Industry Ventures, Felicis Ventures, Lux Capital, and Ray Rothrock. Planet Labs has raised a total of $65 million.
Planet Labs satellite orbit at a smaller distance than other satellites in a circle. The units are cheaper to make and deploy. Since they are closer to Earth, they can produce higher-resolution images. However, Planet Labs satellites don’t last as long. They drift into the orbit and burn after 1-3 years. However, Planet Labs will be able to produce and maintain a large enough fleet over time.
[Source: TechCrunch]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry