LeoLabs, known for having the largest commercial catalog of objects in low Earth orbit, announced it raised an additional $29 million.
This funding will allow LeoLabs to enhance its delivery of insights by investing more in advanced applications for end-users and partnerships, the company said.
The company has changed space operations with its global radar network, providing low latency and tracking over 20,000 objects in low Earth orbit. By applying artificial intelligence, LeoLabs converts millions of data points into essential insights for space safety and sustainability.
CEO and Co-founder Dan Ceperley highlighted the vital need for better safety and security because of the rapid increase of satellites in low Earth orbit. The company has created an advanced AI algorithms that analyze real-time data from its constant, all-weather sensor network, providing ongoing and trustworthy information for those managing space operations.
“This investment, led by GP Bullhound, enables us to accelerate this effort by bolstering our data architecture and system software,” he said. “We’re eager to continue serving the space sector as a key operational partner and enable its growth in an emerging era of tens of thousands of satellites,” Ceperley said.
New investors include GP Bullhound, 1941 and Dolby Family Ventures, with continued support from existing investors like Insight Partners and Space Capital.
“Space is becoming one of the key growth areas of this decade and beyond,” said Per Roman, managing partner at GP Bullhound. “LeoLabs is already the category leader at tracking this data in its extreme complexity — a position we find unique and attractive.”