Privateer Raises $56.5 Million and Acquires Orbital Insight

Insider Brief:

• Apple co-founder, Steve Wozniak’s Privateer has secured $56.5 million in funding and acquired Orbital Insight.
• The funding, part of Privateer’s Series A round, was led by Aero X Ventures and included Luxe Capital, Boca, Starburst, and the Winklevoss twins.
• Privateer’s CEO announced that a new platform integrating satellite imagery data is expected to be released within the next six months.

Privateer, the space data startup founded by Apple co-founder Steve Wozniak, has secured $56.5 million in funding and acquired Orbital Insight, an analytics firm. The funding, part of Privateer’s Series A round, was led by Aero X Ventures and included Lux Capital, BOKA, Starburst, and Winklevoss Capital as reported by Reuters.

Privateer focuses on assisting satellite operators in navigating Earth’s crowded orbit while Orbital Insight is known for its fusion of data sources including cell phone location and satellite imagery. The acquisition was made possible by the recent boost in funding and is set to enhance Privateer’s space data offerings with mapping and intelligence services. Combining Orbital Insight’s TerraScope Earth observation platform, which acts as a search engine for recently captured satellite imagery with Privateer’s satellite-tracking software will create a comprehensive platform for satellite data analysis.

“This is major mergers and acquisitions news for the space industry — one we should pay particular attention to,” said Anup Gholap, Space Impulse Market Analyst. “Especially given the history — Privateer came out of stealth mode in 2021 and acquired an established player, Orbital Insight, which was founded in 2013 and raised $130 million.”

Privateer’s CEO, Alex Fielding did not reveal the financial details of the merger but emphasized that the acquisition will expand the company’s offerings, particularly in the space situational awareness (SSA) market. SSA is crucial for managing space traffic, akin to air traffic control, in the absence of international regulations.

Privateer’s SSA services are aimed at satellite imagery companies, helping them navigate space debris and effectively task satellites. This collaboration promises to deliver near real-time mapping and intelligence services by integrating satellite imagery data.

Fielding announced that a new platform integrating this data is expected to be released within the next six months. The platform will enable the reuse of satellite imagery, making it accessible for multiple uses at a fraction of the original cost.