TAMPA, Fla. \u2014 Earth observation startup SatVu said Feb. 17 it has raised 30 million British pounds ($41 million) in a funding round that included the NATO Innovation Fund, as commercial space-based thermal imagery gains traction with defense and intelligence agencies.<\/p>\n
The funding will support the British venture\u2019s push back to orbit after its initial demonstrator failed in 2023<\/a>, with two follow-on satellites slated for launch this year as it works toward a constellation of nine spacecraft to deliver 10-20 daily revisits.<\/p>\n \u201cThis funding secures SatVu\u2019s path to execute at scale,\u201d SatVu chief financial officer Camilla Taylor said in a statement.<\/p>\n \u201cWe have a clear and credible path to a multi-satellite constellation, accompanied by investors that match the ambition and pace of the business.\u201d<\/p>\n SpaceX was previously lined up to launch SatVu\u2019s HotSat-2 and HotSat-3 satellites, both built by U.K.-based Surrey Satellite Technology Ltd. (SSTL), in 2025. SatVu did not disclose a reason for the delay.<\/p>\n The startup said it has also initiated contracts for an additional three satellites without elaborating.<\/p>\n SSTL built HotSat-1, launched in June 2023 to demonstrate its capability to capture thermal imagery at 3.5-meter resolution before suffering an anomaly that ended services after six months in low Earth orbit.<\/p>\n SatVu aims to provide imagery that can reveal activity otherwise invisible day and night, including heat signatures associated with operations around buildings and critical infrastructure.<\/p>\n Anthony Baker, SatVu\u2019s cofounder and CEO, said: \u201cThis allows governments to assess activity, readiness, and operational change \u2014 a critical new data layer that matters for defence, security, and sovereign decision-making.\u201d<\/p>\n The NATO Innovation Fund, or NIF, is a venture capital fund backed by NATO member nations to invest in emerging technologies with defense and security applications.<\/p>\n Trisha Saxena, a senior associate at NIF, said: \u201cSatVu\u2019s thermal intelligence technology can provide governments and businesses across NATO nations with a level of detailed data that was simply not available before.<\/p>\n \u201cWe are pleased to support SatVu as it revolutionises the earth observation market, delivering critical insights to the security, finance and commodities sectors to help safeguard defence and economic activity across the Alliance.\u201d<\/p>\n Thermal imagery interest heats up<\/p>\n The funding announcement comes a week after the U.S. National Reconnaissance Office added SatVu and two other commercial imaging firms<\/a> to its roster of vendors it is testing for future intelligence missions.<\/p>\n