Descartes Labs raises $20 million to create Earth’s digital twin
SAN FRANCISCO – Descartes Labs, a company that specializes in applying machine learning to geospatial datasets, raised $20 million in a Series B-2 bridge financing round, bringing the Santa Fe, New Mexico, firm’s total raised to nearly $60 million.
With the additional funding announced Oct. 11, Descartes will pull in data from a diverse group of satellites to create Earth’s digital twin and offer customers “instant access to analysis-ready images of the entire world via a searchable, on-demand interface,” according to an Oct. 11 blog published on the website Medium. Descartes is continuing to update its data pipeline “with massive volumes of new information from historical and current satellite data, sensors and data from our customers, to generate actionable intelligence,” the post added.
Union Grove Venture Partners led Descartes’ latest funding round. Existing Descartes investors Ajax Strategies, Crosslink Capital and March Capital Partners participated.
With the latest infusion of cash, Descartes will continue to develop new products, according to the blog. The company announced plans in September to map and model methane emissions in its home state of New Mexico, starting in the Permian Basin.
Descartes will combine data from the Copernicus Sentinel-5P Tropospheric Monitoring Instrument with historical wind models from the U.S. National Oceanic and Atmospheric Administration and other datasets to track emissions.
“As far as we know, New Mexico will be the first state to formally leverage data from the Sentinel-5P satellite in a comprehensive monitoring solution,” according to a Sept. 19 Medium blog post.