Geospatial Analytics Company, Satelytics secured $5 million, led by BP

Satelytics, an OH-based geospatial analytics company, has now secured a $5 million investment.

Satelytics is founded by Sean Donegan. It is a cloud-based geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, which includes methane emissions. According to CrunchBase, the company has already secured a total of $12 Million in five funding rounds.

The company technology collects high-resolution spectral imagery from the planet surface with the help of planes, satellites, and drones.

Morag Watson, BP, senior vice president of digital science and engineering, said, "Satelytics is modernizing the energy sector by making data about physical assets more accessible and digestible, leading to better decision making. We are excited to work closely alongside their unique team of scientists and technologists to help them evolve their technology and to continue to move the needle on industry digitalization."

Sean Donegan, chief executive of Satelytics, said, "bp’s early use of our detection and quantification software has inspired us to expand our capabilities. bp’s investment marks an inflexion point for Satelytics, which will assist us in expanding our technological capabilities and fuel future innovation."

The investment was backed by BP with the help of its venturing business.

The company, as of now, has plans to use the new funds to develop its technology further and scale its applications throughout the oil and gas sector.

PC: Pablo, Pixabay