Aidan Daly
LeoLabs raised $29 million in a recent funding round that saw the participation of existing investors like Insight Partners, Velvet Sea Ventures and Space Capital, and the involvement of new ones like GP Bullhound, an investment banking company.
LeoLabs said Monday that it provides space operators with insights concerning space safety, security and sustainability based on data collected by the company’s proliferated radar network and processed by artificial intelligence algorithms, which will benefit from the latest investment.
Dan Ceperley, CEO and co-founder of LeoLabs, explained that the new funds will help bolster the data architecture and system software underpinning the AI algorithms. Ceperley underscored the value of safety and security solutions amid an “unprecedented” rise in the number of satellites in low Earth orbit and said that he and his company are “eager to continue serving the space sector as a key operational partner and enable its growth in an emerging era of tens of thousands of satellites.”
For his part, GP Bullhound Managing Partner Per Roman described LeoLabs as “the category leader” when it comes to tracking data regarding objects in low Earth orbit, which could have environmental consequences if not properly monitored. Roman said that, in light of GP Bullhound’s environmental, social and governance thrust, LeoLabs is seen by his organization as a “key investment.”
