Funding in Wyvern Reaches $15M to Safe First 3 Hyperspectral Satellites

Wyvern has now secured adequate funding to launch its first three Technology-1 satellites. The corporate will supply low-cost HD hyperspectral imaging from house, starting in early 2023.

“We’ve got been impressed from the get-go by the Wyvern crew and their ambition to empower a variety of industries with their hyperspectral imagery.” Jeff Clavier, Founder and Managing Associate at Uncork Capital

EDMONTON, Alberta (PRWEB) November 01, 2022

Wyvern, an area knowledge firm providing reasonably priced and easy-to-access high-resolution hyperspectral imagery, secured an extra USD $7M of funding led by Uncork Capital, with key buyers together with MaC Enterprise Capital and Y Combinator.

With the brand new capital, Wyvern’s first three satellites are totally funded, offering certainty to clients with an curiosity in buying the restricted remaining capability. The newest elevate comes along with USD $8M of funding secured in two prior funding rounds.

“The funds we’ve raised go in direction of the launch and operation of Wyvern’s first three satellites which can present top quality, 5 m decision hyperspectral imagery to early adopters in early 2023,” says Wyvern CEO Chris Robson. “Trade leaders are seeing the chance and taking motion, which is thrilling and brings new challenges. Even on the quick price of constellation development we’re planning, demand will quickly start to outstrip provide and early adopters can be glad to have secured their seats.”

That benefit comes from the distinctive capability of hyperspectral imaging to disclose chemistry. A complicated spectral imaging method, hyperspectral compiles pictures in a mix of seen and non-visible wavelengths to type 3D knowledge blocks. These information-rich blocks reveal distinctive insights into an space of curiosity, making it attainable to proactively monitor for vegetation stress, methane ranges, pipeline leaks and invasive species. The ensuing insights will create unprecedented worth and efficiencies for industries together with agriculture, forestry, environmental and emissions monitoring, power, and protection.

Hyperspectral imagery has not beforehand been commercially viable for many industries. Transferring ahead, the important thing to Wyvern’s low value and superior high quality can be its distinctive deployable optics: these next-generation small satellites are being designed by the corporate’s engineers to unfold in house similarly to the James Webb Area Telescope. One other similarity can be in how Wyvern’s deployable satellites will use Shortwave Infrared (SWIR) wavelengths and knowledge channels to indicate what was beforehand invisible — enabling breakthroughs and unlocking a wealth of precious insights.

With Wyvern’s FirstLight program, early adopters safe their entry to high-resolution hyperspectral imaging, and the corporate is making a buyer sandbox to facilitate experimentation and guarantee a easy transition to benefiting from insights out there by means of the brand new know-how and platform. Buyers have taken word.

“We’ve got been impressed from the get-go by the Wyvern crew and their ambition to empower a variety of industries with their hyperspectral imagery,” says Jeff Clavier, founder and managing accomplice at Uncork Capital, a seed-stage enterprise agency that has backed numerous multi-billion firms to success since its creation 18 years in the past. “Like our different house tech firm Loft Orbital, Wyvern is demonstrating the technical innovation and the novel method that may democratize entry to space-based observations.”

The brand new funding, led by Uncork Capital, was one in every of a number of outcomes from Wyvern’s participation in Y Combinator earlier this yr.

Chris Robson credit the brand new funding with serving to make Wyvern’s first constellation a certainty and cementing the worth for early adopters. “Finally, this funding secures extra than simply satellites. It will get our clients entry to a custom-made ordering platform. It means taskable spectral imaging with a reliable revisit price. And that, in flip, provides clients the pictures they want, once they want it.”

Media Contact:
Adam Brown
Strategic Initiatives Lead
adam.brown@wyvern.house
+1 (587) 771-1284

About Wyvern
Edmonton-based house knowledge firm Wyvern was created to offer actionable intelligence that may allow a sustainable future for humanity. Wyvern’s cutting-edge unfolding digital camera know-how will make high-quality, high-resolution hyperspectral imagery from satellites accessible and reasonably priced like by no means earlier than, unlocking functions in new markets for the very first time. The corporate is proud to be carving a path for the Canadian house trade. For extra data, go to wyvern.space and @WyvernSpace.

About Uncork Capital
Uncork Capital is a seed-stage enterprise agency primarily based in Palo Alto and San Francisco, California. Previously often known as SoftTech VC, the agency was based in 2004, has invested in over 240 know-how startups, and presently has over $500 million beneath administration. Uncork Capital is usually the primary massive verify and the longest relationship for founding groups. The agency seems for outliers and outperformers who clear up actual issues for actual folks and companies. Uncork Capital invests in software program that enables firms to function like the most effective on the planet; and shopper services and products that assist folks stay, play, and be taught — together with {hardware} and frontier tech. Among the many agency’s former investments are: Fitbit (NYSE: FIT); Sendgrid (NYSE: SEND, Twilio); Eventbrite (NYSE: EB); Poshmark (NASD: POSH); Postmates (UBER); Mint.com (Intuit); Brightroll (Yahoo); and Vungle (Blackrock). Its present portfolio consists of LaunchDarkly, Human Curiosity, Entrance, ClassDojo, Shippo, Fountain, Wrapbook, and extra. For extra data, please go to uncorkcapital.com.

About MaC Enterprise Capital
MaC Enterprise Capital is a seed-stage enterprise capital agency primarily based in Los Angeles and Silicon Valley that invests in know-how startups leveraging shifts in cultural traits and behaviors. The final companions characterize various backgrounds in know-how, enterprise, politics, leisure, and finance, permitting them to speed up entrepreneurs on the verge of their breakthrough second. The agency offers hands-on help essential for constructing and scaling category-leading firms, together with operations technique, model constructing, recruiting, gross sales improvement, and mission-critical introductions. MaC Enterprise Capital is the results of a merger between Cross Tradition Ventures, co-founded by Marlon Nichols, and M Ventures, co-founded by Adrian Fenty, Michael Palank, and Charles D. King. Discover MaC Enterprise Capital on-line at macventurecapital.com and @MaCVentureCap.

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