Equinor Ventures has invested in Space Intelligence
Space Intelligence has completed a Seed Round led by Equinor Ventures. The funding will allow the company to continue mapping the world’s tropical forests and developing products into becoming an API-accessible and scalable SaaS business.
Space Intelligence is a data analytics and software-as-a-service (SaaS) Measurement Reporting and Verification (MRV) company based in Edinburgh, Scotland. The company acquires, processes and analyses satellite data, selling actionable business intelligence to forestry project developers, corporates and governments seeking to mitigate their environmental impact. “It is an enormous coup for Space Intelligence to have secured investment from high-profile VCs, and to have two such well-respected finance and climate experts join us,” said chief executive officer Dr Murray Collins.
MRV technologies have the potential to accelerate conservation and reforestation activities by collecting data on how forests are changing, while monitoring and protecting them. These digital technologies such as AI, drones, nanosatellites, sensors and software are used to better quantify forest carbon storage and emissions from deforestation. Ultimately, MRV technologies enhance the value of nature-based solutions (NbS) projects by offering an extra layer of reassurance that projects are high-quality and do what they claim, while greatly reducing project cost and time
The lead investor, Equinor Ventures, is Equinor's corporate venture capital arm, dedicated to investing in ambitious early-phase and growth companies. Equinor is an international energy company headquartered in Norway. Lars Klevjer, head of Equinor Ventures, said: “The world needs solutions like Space Intelligence to ensure reliable and verifiable data in carbon markets, and we look forward to working together to develop the company.”
Graeme Faulds a highly experienced private equity investor and founder of software company TopQ joins the company’s board as chairman. Fatima Hadj, head of the Climate Investment Centre at HSBC, also joins the board as a non-executive director.