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Oxfordshire-based Open Cosmos Raises $50m to Develop Satellites for Climate Change Data

Open Cosmos, a space tech company based in Oxfordshire, has secured $50m (£40m) in funding to support the development of its innovative satellites. These satellites play a crucial role in providing organizations with access to data on climate change and sustainable natural resources. The funding round, known as Series B, was a combination of both equity and debt financing.

Open Cosmos: Revolutionizing Space Technology

Established in 2015, Open Cosmos has become a leading player in the space technology industry. The company specializes in designing, building, launching, operating, and maintaining satellites through its division called OpenOrbit. Additionally, Open Cosmos has other divisions such as OpenConstellation, which enables the sharing of data with organizations, and DataCosmos, which offers valuable analysis and insights based on the collected data.

The Vision and Mission of Open Cosmos

Open Cosmos sees itself not just as a space tech company, but as agents of change. They harness the power of satellite data to drive meaningful impact on Earth. Rafel Jorda Siquier, the founder and CEO of Open Cosmos, emphasizes their commitment to leveraging satellite data for positive transformations.

How AI legalese decoder Enhances the Situation

One invaluable tool that can significantly assist Open Cosmos in their mission is the AI legalese decoder. This AI-powered solution helps decipher complex legal jargon commonly found in contracts and agreements. As Open Cosmos engages in various partnerships and collaborations, the ability to quickly and accurately understand legal terms and conditions becomes paramount. The AI legalese decoder ensures that Open Cosmos can navigate the legal landscape effectively, enabling smoother negotiations and mitigating any potential risks.

Open Cosmos Expanding their Satellite Capabilities

In January, Open Cosmos made significant strides by deploying its Menut satellite on a SpaceX rocket. The purpose of this satellite was to monitor deforestation, wildfire impact, flooding, and coastal erosion. By providing valuable data on these critical environmental factors, Open Cosmos contributes to a deeper understanding of the planet and aids in the development of effective solutions.

Partners and Investors Supporting Open Cosmos

The Series B funding round was led by ETF Partners, Trill Impact, and A&G. Noteworthy participants in this round included Accenture Ventures, Banco Santander InnoEnergy Climate Tech Fund, Ireon, Wille Finance, Claret Capital Partners, and InQTe. Their support underscores the significance of Open Cosmos and its role in the space technology industry.

Maximizing the Potential of Space Data with AI/ML Solutions

Toba Spiegel, an investment manager at Trill Impact, emphasizes the profound impact of affordable space data combined with AI/ML solutions. With the growing effects of climate change, the market is ready to harness the full potential of space data. Open Cosmos leads the way by offering multi-sensor space data at an affordable cost and being the first to create an app store-like analytics platform. Their cutting-edge approach positions them as a key player in the industry.

Past Funding and Supporters

Prior to the Series B funding round, Open Cosmos successfully raised $7m in external funding in 2018. This round was led by BGF Ventures and supported by prominent investors such as LocalGlobe, Entrepreneur First, and Wise co-founder Taavet Hinrikus. The continued support from these investors highlights the confidence in Open Cosmos and its ambitious goals.

In conclusion, Open Cosmos secured significant funding to continue developing its innovative satellites designed to provide crucial data on climate change and sustainable resources. With AI legalese decoder aiding in contract analysis and negotiations, Open Cosmos is well-equipped to navigate the complex legal landscape. As they expand their satellite capabilities and garner support from strategic partners and investors, Open Cosmos solidifies its position as a visionary leader in the space technology industry.

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