$40m in new funding for Spire

Spire Global, a satellite data company providing weather data and maritime analytics for the shipping sector, has announced more than $40 million in new funding, which will be used to support further development of its space-based services.

The investments come from strategic partners including ITOCHU, Mitsui, and Scottish Investment Bank, as well as financial investors led by the GPO Fund, Perennial Value Management Limited, and Bessemer Ventures. Existing investors RRE Capital, Expon Capital, Seraphim Capital and Qualcomm Ventures also participated in the funding round.

Spire says that this new investment will allow the company to enhance its ability to create space-based data and analytics, with improved accuracy for weather data and extreme weather prediction analytics.

”Especially in the high growth areas of APAC we see tremendous potential for Spire’s data and analytics,” said Key Compton, Managing Director, The Global Public Offering Fund (GPO Fund).

“These regions traditionally did not have access to such sophisticated climate and economic activity monitoring tools, despite encompassing half of the world’s GDP and population.”

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About the Author

Rob O'Dwyer
Rob O'Dwyer

Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email at rob.odwyer(at)smartmaritimenetwork.com, or on LinkedIn by clicking here.

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