Scotland’s Earth Blox rakes in £1.5 million to harness satellite imaging data for Earth observation
The Scottish SaaS startup uses satellite data to identify illegal activities such as deforestation and mining, which can help companies act on their supply chains.
Driven by net-zero and ESG, the earth observation market (EO) market for value-added services is forecast to double in the next ten years from £1.86 billion in 2021 to £3.97 billion by 2031. Companies from across the energy, insurance, and environmental sectors, as well as some international NGOs need for critical decision making around climate and security risks, environmental degradation, and adaptation to climate change.
Cashing in on this trend, Edinburgh-based satellite imaging platform Earth Blox has raised £1.5 million in funding from Archangels to expand its global reach and further develop its no-code Earth Observation (EO) cloud-based SaaS.