Open Cosmos –a space tech business making satellites that gather data to solve pressing global challenges – has raised $50 million, says the company in a press release. Satellite data is a critical tool for addressing issues such as climate change, humanitarian disasters, and resource management effectively and sustainably.
Open Cosmos uses the power of satellites to simplify and democratise access to space and space data. Its mission is to allow all organisations to access the benefits of satellite data and insights to address global issues. The company handles end-to-end telecommunications, Earth Observation (EO), navigation, and scientific missions. They give other companies/parties access to data through their OpenConstellation infrastructure and provide AI-powered data analysis.
This approach has its benefits. It reduces mission costs, complexity, and timelines while making the data accessible to a broader range of companies, including non-space customers, for addressing critical societal challenges.
The power of satellite data
Satellites have a range of impactful use cases. Their onboard technology, when combined with AI applications, can measure greenhouse gases, while providing data on global temperature trends and can help monitor the extent of polar ice caps, sea levels, and ocean currents. EO imagery provides enhanced coverage of forests, allowing for the detection of deforestation. During natural disasters, satellite imagery provides real-time data, helping to assess the extent of damage and coordinate relief efforts, while satellites equipped with specialised sensors can detect and monitor oil spills quickly before they are even visible from the ground. Such is their impact, 60% of the 54 essential climate variables can be addressed by satellite data, with 21 requiring long time series and global coverage which can only be provided by satellites – and it’s why the EO satellite market is estimated to be worth $11.3 billion by 2031.
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