Picterra announces £2.6m funding boost from raft of new investors

Picterra

Geospatial software organisation Picterra has announced $3.3 million (£2.6 million) in new funding.

The firm, which enables users to extract satellite and drone imaging insights through a combination of artificial intelligence and human expertise, said the funding will help further democratize geospatial mapping data.

It will go towards growing Picterra’s team and building upon its early successes, such as a community-built library of hundreds of deep learning models, reducing the training of deep learning models, and democratizing its geospatial mapping search engine.

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Seed round investors include: Space Capital, the world’s leading space investor; Omidyar Network, the impact investment firm established by Pam and Pierre Omidyar, the founder of eBay; Atlantic Labs; and another European venture capital firm.

Pierrick Poulenas, CEO of Picterra., said: “We are extremely pleased to have such a strong group of investors in this round.

“Their expertise will be incredibly valuable as we roll out our disruptive approach to extract structured and valuable information from Earth Observation imagery.”

Chad Anderson, Managing Partner of Space Capital, said: “Picterra’s technology is built upon the advent of artificial intelligence and the increasing availability of Earth Observation imagery.

“Picterra provides AI as a service for Earth Observation imagery, with the aim to put powerful deep learning models at users’ fingertips, and is a great compliment to our portfolio.”

Picterra’s platform is driven by a community of users who pool their data and expertise to collectively create a continuously-improving library of deep learning algorithms.

This approach gives everyone the opportunity to analyse and draw real-time insights from satellite and aerial imagery, all in just a few clicks.

And by enabling quicker and more accurate monitoring of the Earth’s surface, Picterra, its platform, and community of users further help geospatial technology address pressing issues, like climate change.

Peter Rabley, venture partner at Omidyar Network, said: “For geospatial technology to reach its full potential in promoting social good and impact, it cannot stay in the hands of a few. That’s why organizations that democratize industry data and expertise, like Picterra, are so vital.

“We’re looking forward to seeing their community’s continued growth, further spurring geospatial innovation and advancements.”

Tags : Fundinggeospatial mappingPicterra
Patrick Cremona

The author Patrick Cremona

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