Descartes Labs has raised a Series B round of funding to develop its “data refinery” that pulls together satellite data into usable products.
Today, we’re excited to announce Descartes Labs $30M Series B round of financing led by March Capital, an LA-based venture capital fund. Our seed round was led by Crosslink Capital and our Series A was led by Cultivian Sandbox. Both Crosslink and Cultivian participated in the Series B along with a few other investors, including one of our customers, Cargill.
Less than three years ago, Descartes Labs was born as a spin-out from Los Alamos National Laboratory with the goal of using satellite imagery to model complex, global systems. In the course of tackling this audacious goal, we built what we believe to be the critical and missing component that unlocks the value of satellite imagery: a data refinery….
A data refinery is a system that pulls in raw data, cleans it up, fuses data from disparate sources, and adds tools on top of it for easier analysis.
One of the hallmarks of a data refinery is data cleanup. The team at Descartes Labs spends an inordinate amount of time on the remote sensing science that enables complex models to be accurate. We’ve been working on coregistration of pixels (making sure every pixel is in the proper place), global surface reflectance (correcting for the effects of the atmosphere) and advanced cloud detection (ensure models only incorporate the best pixels).
But, even more important than data cleanup is data fusion. Every data set has unique qualities: finer spatial resolution, pictures with greater frequency, seeing through clouds, and even listening to radio frequency signals or measuring heat. In working on customer problems, one of the things we’ve uncovered is that it’s rarely a single satellite or dataset alone that will solve the problem. Only by turning different datasets into a fused sensor, a super-sensor, are we able to solve the problem.