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California, US-based firm Planet Labs has closed a fresh $52 million from a recent funding round to launch small satellites into space
US-based startup Planet Labs raised $52 million in a recent funding round to launch a fleet of satellites into space. The satellites will gather information about the Earth, according to VentureBeat.
Planet Labs was founded by two scientists from National Aeronautics and Space Administration (NASA). The startup plans to launch a small fleet of satellites called Doves into space. These satellites will orbit the Earth and send back high-resolution images of the planet. The company's founders hope the images and other information gathered will be used to track changing weather patterns, track deforestation, and improve global agriculture, the report detailed.
To date, Planet Labs has already launched four Doves into low orbit. The company plans to launch 28 satellites in total in its inital flock (Flock 1) before the year ends, the report added.
The latest round includes investments from Industry Ventures, Lux Capital, Ray Rothrock, Felicis Ventures, and billionaire Yuri Milner. Existing investors Capricorn, DFJ, Founders Fund, O'Reilly Alpha Tech Ventures (OATV), Innovation Endeavors, First Round Capital, AME Cloud Ventures, and Data Collective also participated in the round. Planet Labs has raised a total of $65 million in funding to date, VentureBeat reported.
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