London-based SatVu, a climate technology company, announced that it has raised £20M (approximately €24M) in funding. The capital includes £10M (approximately €12M) from an equity round led by Adara Ventures and Molten Ventures, along with an insurance payout.
The equity funding was supported by existing investors, including NOA, Lockheed Martin, Seraphim, Ridgeline, and Stellar Ventures.
The UK company will use the funds to accelerate the build and launch of HotSat-2 and HotSat-3, both of which are expected to ship for launch in 2025.
These satellites will provide critical, near real-time thermal data, essential for understanding energy transition, monitoring infrastructure and economic activity, and driving targeted action towards climate mitigation and resilience, contributing to vital decision-making as the world progresses toward net-zero.
Anthony Baker, CEO & Co-founder of SatVu, says, “With the invaluable new support from Adara Ventures, alongside the continued backing of our existing investor network, we’re accelerating our mission to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action. The launch of HotSat-2 and HotSat-3 will bring us closer to a net-zero future by providing the data needed to address the most pressing environmental and energy challenges of our time.”
SatVu: Specialises in climate technology
Founded by Anthony Baker and Tobias Reinicke, SatVu specialises in climate technology, developing thermal imaging capabilities.
The HotSat constellation, which started with the launch of HotSat-1 in June 2023, has improved how the planet is monitored.
It captures clear 3.5m resolution thermal data, helping gain new insights into global carbon emissions and energy use.
The investor
Adara Ventures invests in ambitious businesses. The firm has invested in over 46 companies, including industry leaders such as Seedtag, AlienVault, Playgiga, and ADD Semiconductor, and manages over €250M in capital.
Adara Ventures’ portfolio includes companies dedicated to cybersecurity, applied AI, data infrastructure, hardware components, digital health, and the energy transition.
“We are thrilled to embark on this journey with CEO Anthony Baker and the SatVu team,” says Alberto Gómez, Founding Partner at Adara Ventures. “By harnessing high-resolution thermal imaging technology to unlock previously inaccessible data, we believe SatVu is well-positioned to fuel a new generation of data applications across multiple use cases that monitor energy efficiency, economic activity, renewable generation, and beyond.”
01
Not solo: How Xolo aims to help Dutch solopreneurs with its comprehensive business management platform