![Descartes Labs provides information about Earth derived from collected satellite imagery. [Image via tpsdave/Pixabay]](https://staticr1.blastingcdn.com/media/photogallery/2017/8/27/660x290/b_502x220x82/image-credit-tpsdavepixabaycom_1532385.jpg "Descartes Labs provides information about Earth derived from collected satellite imagery. [Image via tpsdave/Pixabay]")
geospatial analytics Startup Descartes Labs is making a big announcement this week. The startup has just raised $30 million in its latest funding round led by Sequoia Capital.
According to TechCrunch, Descartes Labs has just received $30 million from its Series B funding round. The Los Angeles-based venture capital firm March Capital led this latest funding round, with some participation from Crosslink Capital, Cultivian Sandbox and other investors who previously provided funding for the company. Additionally, Cargill, the US-based agricultural conglomerate and one of Descartes’ customers, also participated in the latest round.
The fresh funding will be used to grow its business and to better understand Earth using machine language. The new funds will also be used to tackle new data sources. The startup takes a ton of satellite imagery and then processes it to come out with result that can be used by businesses to make decisions and generative predictive models.
A close look at Descartes Labs
Founded in 2014 and based in Santa Fe, New Mexico, Descartes Labs provides information about Earth derived from collected satellite imagery. Originally, the company was launched as a spin-out from Los Alamos National Laboratory in 2015. Initially, Descartes' technology was applied to develop an agricultural model for corn and soy farms in the US.
Its technology provides an effective analysis model that can accurately predict yield.
Today, the startup is turning its focus to opening its technology platform to a much wider audience. The company is developing a cloud-based supercomputing platform for the application of AI and machine learning to massive data sets. This supercomputing platform can be used by anyone to develop intelligent learning models.
Geospatial analytics has a huge potential and can be useful for a wider range of business applications, which include agricultural, science, mining, and oil exploration. There’s also new client coming for its satellite imagery. Banks are getting more dependent to geospatial data to monitor real-estate development and activities.
The company’s funding came three months after Descartes’ rival Orbital Insight secured its own $50 million from Sequoia Capital. Orbital Insight was led by former NASA roboticist James Crawford and its counts the US venture giant Sequoia Capital as its main investors. Both companies know the huge business potential of the geospatial analytics. Both companies also used AI and machine learning to produce insights from satellite imagery and other data sources.
The challenge for Descartes Labs today
As mentioned earlier by TechCrunch, the single biggest challenge for the company is how to get those companies into a position where they can get the most out of using the company’s technology platform.
This involved extracting data from satellite imagery and other data sources and cleaning it for processing. This is the main reason why the company raised funds.
The company plans to open up all of its technology for use in many new potential options. Like for example in drone footage, social media interactions, and sensory measurements. The company’s Geovisual Search, which implements computer vision to quantify physical infrastructure, allows users to search across the globe for a particular thing and then identify them.
