British Satellite scale-up raises £15m in oversubscribed Series A funding
Summary
Anthony Baker, CEO of Satellite Vu, said: “With COP 26 just around the corner and Europe and parts of the USA having suffered the hottest summer on record, there is growing acceptance that we need to act now to try to mitigate the impacts of climate change on our everyday lives and economy. Our significant increase in investment shows the enormous promise that high resolution infrared satellite data holds in solving serious issues impacting the world. By measuring the thermal footprint of any building on the planet, Satellite Vu’s high resolution, high revisit infrared satellite constellation holds the key to resolving this.” Gregory Dewerpe, founder of A/O PropTech, said: “Investing in the fight against climate change means backing innovation and bold ideas, but it also means we have to do it now if we are to have any hope of reaching our net zero ambitions. Satellite Vu’s accurate, real-time measurement of the energy performance can become the single source of truth when it comes to calculating, benchmarking and reducing buildings emissions and show us exactly where to prioritize- something that neither current regulations nor systems, which are based on historical operational use data, are able to do at scale and systemically.” George Chalmers, Draper Esprit said: “Retrofitting the world’s existing building stock is a key lever for achieving any net-zero roadmap. We believe in its potential to lead the charge in how we measure the energy efficiency and carbon footprint of our built world and deliver on the promises we are making to our planet.”