Extellis has expanded its seed financing round with an investment from Shell Ventures. The amount of the investment and the total size of the round were not disclosed.
The Durham, North Carolina-based company is developing satellites that can capture synthetic aperture radar imagery at industrial scale. The funding will support Extellis’ pathfinder mission, team expansion and progress toward commercial operations.
A pathfinder mission is an early deployment used to test technology and operating capabilities before a company begins broader commercial service. Extellis plans to demonstrate its satellite imaging platform and prepare the infrastructure needed to serve industrial customers.
Extellis’ satellites will use patented antenna technology developed at Duke University through research sponsored by the Defense Advanced Research Projects Agency. The company said its technology is designed to enable each satellite to capture thousands of images per day.
Synthetic aperture radar, commonly known as SAR, uses radio waves to produce images of the Earth’s surface. Unlike conventional optical cameras, SAR systems can operate at night and through clouds, smoke and other conditions that may obstruct visible imagery.
Extellis is targeting infrastructure operators and industrial companies that need frequent and consistent information about widely distributed assets. Potential applications include monitoring pipelines, transportation networks, energy facilities and other critical infrastructure.
Many operators currently rely on helicopters and ground inspections to assess remote assets. These approaches can be expensive, time-consuming and limited by weather, terrain and personnel availability.
Optical satellite imagery can provide broader geographic coverage but may leave gaps when clouds or darkness prevent useful images from being captured. Extellis is developing its platform to provide more dependable monitoring across different times and weather conditions.
The company believes higher-frequency satellite data could support regulatory compliance, supply chain visibility and operational decision-making. It plans to use the new capital to increase engagement with infrastructure and industrial customers as it moves closer to commercial deployment.
Shell Ventures’ participation adds an investor with experience across energy and industrial infrastructure. Extellis said the investment reflects growing demand among asset operators for scalable satellite intelligence that can support more timely monitoring.
KEY QUOTES:
“Shell Ventures’ investment highlights the growing recognition among infrastructure operators that there are unmet needs for consistent, high-volume satellite imagery.”
“We’re thrilled by the opportunity to bring our technology and capabilities together with Shell Ventures’ expertise to support the development of robust monitoring solutions.”
Michael Boyarsky, Co-Founder and CEO of Extellis
“Extellis’ focus on delivering high-quality, reliable satellite intelligence is a unique proposition and has the potential to serve a broad range of industrial applications.”
“The capture of consistent, actionable data could enable more timely and informed decision-making, supporting improved operational efficiency at scale across a broad range of industries.”
Quennie Co, Managing Director of Shell Ventures
