UK’s SatVu secures $41M with NATO fund backing
British satellite company SatVu has raised £30 million ($40.8 million) in fresh funding, including investment from the NATO Innovation Fund (NIF), the firm announced Tuesday.
The latest round brings SatVu’s total equity investment to £60 million, providing additional capital to support its expansion plans, News.Az reports, citing Reuters.
The funding boost comes as Britain and Europe seek to keep pace with the United States in satellite technology. Earlier this month, the U.S. Senate Commerce Committee advanced legislation aimed at accelerating approvals for new satellites, while Eutelsat is working to strengthen Europe’s space-based capabilities.
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Participants in SatVu’s latest financing round include the NATO Innovation Fund, the British Business Bank, Space Frontiers Fund II and Presto Tech Horizons.
“SatVu was founded to give governments access to intelligence they cannot access elsewhere,” Chief Executive Anthony Baker said in a statement.
He added that high-resolution thermal imagery from space can detect activity that would otherwise remain unseen, both day and night, including heat signatures linked to operations within and around buildings and critical infrastructure.
The NATO Innovation Fund is an independent venture capital fund supported by 24 member nations of the North Atlantic Treaty Organization.
By Nijat Babayev
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