HySpecIQ Announces Investment by Peter Thiel
HySpecIQ, a satellite-powered hyperspectral analytics company, today announced the closing of Series B funding by venture capitalist Peter Thiel. The investment accelerates the development of a twelve satellite constellation to deliver hyperspectral imagery with unprecedented resolution and global reach. HySpecIQ's analytics platform is specifically designed to transform hyperspectral imaging data into actionable insights to help address some of the world's most critical and complex problems.
HySpecIQ is leading the world in the development of hyperspectral imagery with a vision to empower government and commercial decision makers to make the planet safer, smarter, stronger, and more sustainable. The company combines the highest resolution hyperspectral imagery captured from purpose-built satellites with the most intuitive data analytics platform. Together, government and industry clients will be able to see what others can't and then leverage this competitive advantage to predict fires, protect infrastructure, strengthen intelligence, enhance security, mitigate risk, and maximize investment.
HySpecIQ is:
- Launching state-of-the-art satellites to deliver the highest resolution, hyperspectral imagery with global reach, reliability, consistency, and affordability
- Developing mission-specific spectral algorithms, analytics, and a cloud-based platform to transform its uniquely valuable data into immediate and actionable insights for partners
- Collaborating with its government clients and commercial partners to offer a competitive edge for solving the world's most pressing problems from national security to climate change
"HySpecIQ's superior satellite sensor technology meets the urgent need of government to provide security," said Peter Thiel. "Starting from that key market, HySpecIQ has the potential to provide great value across industries."
HySpecIQ is uniquely positioned to accelerate and commercialize the use of hyperspectral imagery because it is designed for the most discerning and demanding client?the US government and its intelligence agencies. As the only commercial hyperspectral imaging company awarded a contract by the National Reconnaissance Office, HySpecIQ is paving the way to provide critical support for national security. With this vote of confidence, the company is now seeking a limited number of pilot commercial partners to apply this uniquely valuable data to everything from environmental monitoring and insurance to fire protection and beyond.
"Peter's investment and belief in our technology is a major milestone for our company," said William Sullivan, executive chairman and co-founder of HySpecIQ.
CEO John DeBlasio added "we're on a growth fast-track with transformational milestones ahead. Our satellites will offer hyperspectral imagery that is an order of magnitude better than existing imagery and our industry led partnerships will create transformative use-cases for this data. This investment is the accelerant for an amazing future for this company which I'm proud to lead."
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