Insider Brief:
- SynMax, a satellite data analytics company, secured $13 million in a recent funding round, valuing SynMax at $50 million pre-money.
- SynMax specializes in providing actionable analytics using commercial satellite imagery for high-value industries.
- The company plans to use the funding to expand its market presence, particularly in the energy industry.
- Image credit: SynMax
SynMax, a satellite data analytics company, has successfully raised $13 million in a funding round led by Bill Perkins, an energy trader and co-founder of SkyFi. The round, which values SynMax at $50 million pre-money, also saw participation from Palantir co-founder Alex Moore and existing SynMax customers as reported by Payload.
SynMax utilizes commercial satellite imagery to provide actionable analytics for high-value industries. The company currently offers three products, including Hyperion, which focuses on oil and gas reserves, Theia, serving government customers to identify dark vessels at sea, and Vulcan, engaging with customers interested in data on coal plant capacity and predicted outputs.
The funding will go towards expanding market reach, particularly in the energy industry, hiring for business growth, and enhancing analysis algorithms, with a focus on generating insights on both the supply and demand sides of energy infrastructure.
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