SkyWatch secures $4M funding led by Sinai Ventures and Space Angels

SkyWatch Space Applications Inc. has raised CDN $4 million or US $3.2 million in seed funding led by Sinai Ventures and Space Angels, with participation from Golden Venture Partners, Techstars Ventures, SK Ventures, Globalive Capital, and ARC Angel Fund.

SkyWatch previously received funding from OCE’s SmartStart Seed Fund.

Waterloo, Ontario based SkyWatch intends to use new funds to continue the development of the world’s largest aggregation and distribution platform for satellite data. SkwyWatch intends to add strategic hires, accelerate product development, and build partnerships.

SkyWatch’s innovative distribution platform, EarthCache, allows companies to cost-effectively integrate Earth observation satellite data into their applications, while empowering satellite operators to efficiently distribute data to new and previously underserved markets. SkyWatch is currently negotiating distribution rights with more than 30 satellite operators to service customers across agriculture, energy, finance, infrastructure, market intelligence, and many other industries.

“Because Earth observation data has the potential to positively impact everyday life in so many ways, everyone should have the ability to easily incorporate this unique data type into their software applications. However, the barriers have been far too high, until now,” said James Slifierz, SkyWatch’s CEO and co-founder. “SkyWatch was started with this vision and we’ve spent the past three years developing our platform alongside our early adopters. Satellite data integration into any software application is now as easy as payments integration via Stripe, or communications integration via Twilio. We’re excited for the tremendous growth ahead, for both the company and the industry.”

photo credit: SkyWatch

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.