Ursa Space Systems: A Global Geospatial Intelligence Network
Ursa Space Systems was founded in 2014 by Adam Maher, Derek Edinger, and Julie Baker.
As Maher explained, Ursa was founded after witnessing the disconnect between information-rich satellite data and those who could really use it. That desire to connect information and people, the information we know can make a difference, is what fuels the company every day to innovate and break new grounds in global intelligence.
As the company writes on their website, “At Ursa, our experts don’t just collect data. They analyze it to see how it pertains to your business. They back your critical decisions with understanding, insights, and accuracy — to give you a decided advantage.”
Asgardia also aims to connect people with information about space as they work to ensure the peaceful use of space for everyone.
By working with Ursa Space Systems clients can leverage the largest, reliable radar satellite network, receive accurate and current intelligence, and collaborate with global experts.
Moreover, Ursa Space Systems is growing and looking for investors. They’re currently accepting bids in Crunchbase, a marketplace for investors and startup companies. As the company writes in their Crunchbase bio, “Ursa Space Systems Inc. (Ursa) is a Space 3.0 analytics-as-a-service company that brings transparency to global markets to help traders and analysts in the finance and energy industries make more informed decisions.”
Last May, Ursa released the world’s first comprehensive weekly China oil inventory report, added the Caribbean and MENA regions in September and intends to have worldwide coverage soon. To gather these timely reports Ursa uses space-based data from radar satellites. The radar works even with clouds and at night, enabling the gathering of information about activities on the Earth regardless of the weather.
According to a statement made by Colin Fenton, Blacklight Research managing partner Ursa’s weekly measurements allow users to recalibrate their expectations about the present and future conditions of oil supply and demand. For example, Blacklight has been able to anticipate oil market changes accurately in 2017 as a direct result of using Ursa’s data.
The company is based in Ithaca, NY, and was founded by leaders in the satellite and software security fields with a mission to unlock the potential of data and insights derived from radar satellite imaging.
Last year, Ursa Space Systems closed a $7 million Series A funding round led by Paladin Capital Group, a Washington-based investment firm.
With this new funding, Ursa has been working on expanding their customer base for products related to the global oil and gas industry, while continuing to develop the machine vision and machine learning algorithms they use to develop new data products.
Ursa is also using the money to buy satellite imagery and expand their team of employees who write novel algorithms to convert the imagery into data and the data into products for customers, according to Derek Edinger, Ursa co-founder and vice president of strategic partnerships, in an interview with SpaceNews.
Edinger also stated that funding in this particular industry is a sign that there is a real market for their products and an appetite in the venture capital community to invest in them.
What’s more, New Enterprise Associates of Menlo Park, California, New York-based RRE Ventures and New York-based S&P Global also took part in Ursa’s latest funding round.
CEO, Maher said it was gratifying to see those investors support Ursa and their work to scale the use of space-based data products.
Ursa analyzes data gathered by synthetic aperture radar satellites, which can function in all light and weather conditions. They then pair the data with information from other sources to provide customers, including many who have never before used space-based imagery, with products that are simple to understand, said Edinger.
Are you on top of the latest trends in space and technology? Do you dream of leaving the borders of Earth to live among the stars? Then join Asgardia today, connect with like-minded people and turn that dream into a reality.
When preparing news, materials from the following publications were used:
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