Labs Planet Labs closes out Series C at US$118M

Geoplex is pleased to announce that its satellite imagery partner, Planet Labs, has recently received another US$20M investment from International Finance Corporation.

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Geoplex is pleased to announce that its satellite imagery partner, Planet Labs, has recently received another US$20M investment from International Finance Corporation, a member of the World Bank Group. This marks the closure of Series C of financing, a total of US$118M.

The IFC’s venture capital division saw the opportunity for Planet Labs data to make a global impact. “Satellite imagery is an important tool for economic development and disaster risk response, and Planet Labs’ datasets can help bridge the information gap many emerging markets now face.

IFC’s investment will help ensure more companies and communities in developing countries have the information they need to grow in a smart and sustainable way,” said Nikunj Jinsi, Global Head of Venture Capital at IFC.

And in further news fourteen Dove satellites (Flock 1e) were launched on the SpaceX Falcon 9 rocket from Cape Canaveral on 14-April. This unmanned mission, dubbed CRS-6, will ferry essential supplies to the International Space Station (ISS). The Planet Labs satellites are currently nestled in the Dragon Capsule’s unpressurized cargo space as secondary payload.

Once the Dragon Capsule docks with the ISS, the satellites will be unloaded, remaining snug in their Nanoracks deployers. Later this year, they’ll be deployed two-by-two into low Earth orbit (LEO).

Image courtesy of SpaceX

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