One of the satellite startups in Harwell’s Satellite Applications Catapult has raised its seed round, with Rezatec grabbing over £1 million in a seed round fueled by Russian-led Run Capital and the Harvard Business School Alumni Angels (HBSAA).
Rezatec markets a “landscape intelligence platform” that picks up on geographic and weather information to provide customized recommendations to manage crops and utilities. Besides satellites, it uses data airborne and ground instruments to make its assessments. Their software also creates predictive models and can build off of pre-existing ones. They have been making strides, signing up new customers in the energy and utilities and agriculture industries. In agtech, they boast their data help increase crop yields, analyze water pollution and monitor soil erosion.
“We are making clear headway with commercial sales of satellite-derived data analytics in a number of sectors worldwide,” CEO Patrick Newton said in a press release. “The support of our investors in this round is key to our expansion plans into this new and fast developing segment of big data analytics.”
They also advertise industry-specific platforms for water, forestry and carbon emissions monitoring.
“The rapid growth in the availability of satellite raw imagery combined with Rezatec’s proprietary technology offers up substantial commercial opportunity in a number of markets worldwide,” Andrey Romanenko, Managing Partner of Run Capital said, while HBSAA’s Cornel Riklin predicted, “Its proprietary processing of these inputs can generate advanced analytics for a much broader range of verticals and geographies than its current area of operations.”
The UK is trying to break the £40 million mark for annual turnover in space tech according to London Economics’ 2015 report The Case for Space, and Harwell is fast becoming the center of that effort. The city hosts a branch of the European Space Agency’s Business Incubation Centre and is home to the Satellite Applications Catapult, of which Rezatec is a member. Rezatec representatives accompanied a British delegation to Space Commerce Conference and Exposition (SpaceCom) in Houston as recently as November, where the Catapult signed an MOU with JAMSS America Inc (JAI) to promote the two groups’ technologies mutually.
The company is led by CEO Patrick Newton and CTO Dr. Stewart Ross. Run Capital is managed by QIWI founder Andrey Romanenko and includes investors Igor Mikhaylov, Sergey Fedyuschenko, Andrey Muraviev, and Nikolay Romanenko.