Optical imagery-focused EarthDaily Analytics emerges from UrtheCast

TAMPA, Fla. — Non-public fairness agency Antarctica Capital has shaped a Canadian optical satellite tv for pc imagery supplier referred to as EarthDaily Analytics, after shopping for components of UrtheCast that sought creditor safety final 12 months to keep away from chapter.

An organization official for New York-based Antarctica Capital, which manages greater than $2 billion of belongings, advised table4 it’s in talks about shopping for different companies in complementary areas. 

It has partnered with area business advisory agency ArgoSat Advisors to create Antarctica Information Companions, which is looking for disruptive corporations that use knowledge analytics, cloud know-how, synthetic intelligence (AI) and machine studying capabilities. 

Antarctica Capital acquired UrtheCast satellite tv for pc designs, its customer-facing Geosys agriculture software program enterprise, midstream and downstream processing know-how, buyer contracts and associated mental property.

Vancouver-headquartered EarthDaily goals to make use of these belongings to begin constructing a constellation in the course of this 12 months, aiming to be operational earlier than the tip of 2023.

Drawing on a growth program that UrtheCast began in 2016, EarthDaily’s constellation knowledge will feed into evaluation that Geosys at present gives from third-party satellites.

The Antarctica Capital official declined to touch upon the constellation design or suppliers, however stated it’s optimized for automated processing within the agriculture market. 

“Our imager structure is kind of completely different from the extra typical small [Earth observation] satellites which are optimized for spatial decision in mapping or protection purposes,” the official stated.

Agriculture clients use Geosys to handle dangers and enhance profitability for purposes together with crop manufacturing monitoring.

Don Osborne, CEO of EarthDaily Analytics, stated in a press release: “Use of know-how within the agriculture business optimizes manufacturing and improves gross sales and profitability and we wish to be on the forefront of that increasing alternative. We’re excited to companion with Antarctica Capital to understand the transformative potential of our know-how.” 

Scott Larson, who co-founded UrtheCast and was as soon as its CEO, shaped a Toronto-based firm referred to as Alpha Insights to purchase the artificial aperture radar (SAR) belongings that Antarctica Capital carved out of its deal.

Antarctica Capital additionally didn’t purchase the Earth-imaging cameras that UrtheCast had put in on the Worldwide House Station. That’s the place UrtheCast’s enterprise was initially centered, however it bumped into points as the connection with its Russian working companion broke down.

“Our focus is on the EarthDaily enterprise for the availability of high-quality knowledge merchandise and analytics derived from optical imaging, particularly for digital agriculture,” the Antarctica Capital official stated.

UrtheCast began growing an information and analytics enterprise after shopping for two Deimos satellites in 2015.

Two years later, whereas UrtheCast was in the course of one other monetary restructuring, it acquired Geosys from U.S. dairy large Land O’Lakes.

Because it struggled to fulfill funds, COVID-19 helped push UrtheCast into restructuring proceedings in 2020 below Canada’s Firms’ Collectors Association Act (CCAA).

Earlier than UrtheCast filed for cover, it had been buying and selling on the Toronto Inventory Alternate since 2013.

Whereas EarthDaily Analytics is a brand new entity that isn’t in creditor safety, UrtheCast Corp stays in chapter proceedings in Canada.

Antarctica Capital additionally didn’t purchase the 2 Deimos satellites, in accordance with the corporate.

Chandra Patel, Antarctica Capital’s managing director, stated in a press release: “We stay up for offering administration operational assist and technical oversight by making use of the experience of the Antarctica Information Companions staff.  

“As we transfer ahead with the corporate’s new constellation of satellites with state-of-the-art imaging know-how, we see large alternative enabled by combining the corporate’s software program and knowledge analytics platform with the brand new satellite tv for pc constellation. This mixture will allow the corporate to supply its clients unparalleled frequency and affordability of knowledge and permit it to broaden past agriculture into a number of untapped verticals together with ESG and Protection and Intelligence.”

Recommended For You

Leave a Reply

Your email address will not be published.