A satellite imagery startup in Broomfield roped in a $35 million investment on Jan. 23.
Albedo Space Corp. develops low-flying, mid-sized satellites used to capture high-quality images from space. The startup operates in very low Earth orbit, or VLEO, and its image quality (10-centimeter optical images and 2-meter thermal infrared images) equates to the resolution of photos taken by drones and planes, according to Albedo.
The startup aims to work with defense and commercial organizations to turn satellite data and images into meaningful information.
“Ultra-high-resolution imagery, coupled with thermal infrared, can be leveraged across a breadth of applications, for everything from urban planning and pipeline monitoring to U.S. and allied military operations,” Albedo CEO Topher Haddad said in a statement.
Its recent $35 million Series A-1 will be used to launch Albedo’s first operational satellite and accelerate the deployment of others.
Back in 2021, the startup anticipated launching its first satellite this year.
“Our launch date for the first satellite is scheduled for 2024, with our full 24-satellite constellation up by 2027,” Albedo co-founder AyJay Lasater told the Denver Business Journal in 2021.
The Series A-1 was led by Standard Investments with participation from Booz Allen Ventures, Cubit Capital, Bill Gates’ investment firm Breakthrough Energy Ventures, Y Combinator and others.
“We were fortunate to raise this round at a step-up valuation from some of the top investors in our category,” Haddad said.
Albedo did not disclose its current valuation.
Chris Bogdan, executive vice president of Booz Allen Hamilton and leader of the firm’s space business, said in a statement this is one the firm’s “most forward-looking space investments” to date.
“The level of detail that can be captured by Albedo’s low-flying satellites — fusing both optical and infrared sensor data — is unprecedented in the commercial market,” Bogdan added. “It represents a significant leap in satellite earth imaging so our clients have access to timely, highly accurate, global intelligence to then speed and improve their decision making.”
Albedo was co-founded by Lasater, Haddad and Winston Tri in 2020. It has since raised $97 million, including a $48 million Series A led by Breakthrough Energy Ventures.
