Open Cosmos raises $50m in Series B funding

Open Cosmos, a UK-headquartered company using small satellites to democratise access to space and space data, has raised $50m in Series B funding from ETF Partners, Trill Impact and A&G.

Open Cosmos works collaboratively with customers during satellite design and manufacturing
Open Cosmos works collaboratively with customers during satellite design and manufacturing - Open Cosmos

The round included Accenture Ventures, Banco Santander InnoEnergy Climate Tech Fund and Claret Capital Partners, with participation from Taavet Hinrikus and Kheng Nam Lee.

With a team of nearly 70 people distributed across the UK, Spain and Portugal, Open Cosmos delivers end-to-end telecommunications, Earth Observation (EO), navigation and scientific missions in a way that lowers the cost, complexity and timescales of missions.

It does this with the design, build, launch and operation of satellites through its OpenOrbit service; enables organisations to access and share data via its mutualised OpenConstellation infrastructure, and offers AI-powered data analysis from a range of satellite sources and analytic partners through its DataCosmos platform.

Rafel Jorda Siquier, CEO and founder explained that Open Cosmos works with clients including private companies, government departments, research institutes, and other organisations.

“Open Cosmos works collaboratively with customers during satellite design and manufacturing,” he said. “We manufacture and test on-site, conducting regular customer reviews to ensure alignment with launch timelines and mission objectives. This iterative approach guarantees that the satellite's development remains on track and precisely tailored to customer requirements.”

Once in orbit, the Flight team takes charge of daily satellite operations, ensuring smooth communications, anomaly detection and correction, software updates, and collaboration with cross-functional teams.

“Our comprehensive, web-based mission control software offers flexible control, automation, and seamless integration with DataCosmos for efficient tasking and image processing, simplifying operations and optimising mission efficiency,” said Jorda Siquier. “This approach ensures the satellite remains effective and data-rich throughout its mission, especially valuable for long-term Earth observation and space-based applications.”

Open Cosmos satellites include Menut, which launched in January 2023 to deliver images monitoring deforestation, wildfire impact, flooding and coastal erosion.

Satellites due to launch in the next few months include MANTIS, which is funded through UKSA in partnership with ESA to produce high-resolution imagery to monitor logistics, energy infrastructure and natural resources. In partnership with the Satellite Applications Catapult, IOD6 will focus on monitoring the Atlantic coastal and maritime areas. Platero, contributed by Spain, will combine EO and IoT on the same satellite to monitor biodiversity and provide real-time insights in the context of natural catastrophes

All three satellites feature a multi-sensor design, which will also enable them to join the OpenConstellation, whilst critical data gathered through their monitoring will become part of the DataCosmos platform. 

According to Open Cosmos, 60 per cent of the 55 essential climate variables defined by Global Climate Observing System can be addressed by satellite data, with 21 requiring long time series and global coverage which can only be provided by satellites. Consequently, the EO satellite market is estimated to be worth $11.3bn by 2031.