PredaSAR, a Boca Raton-based satellite imaging technology company, announced it has raised a $25 million seed financing round led by Miami-based Rokk3r Fuel, with participation from global institutional investors. The space-tech company also announced a new CEO.
PredaSAR is an emerging nanosatellite data provider building and operating a commercial Synthetic Aperture Radar (SAR) satellite constellation. Synthetic Aperture Radar is an advanced form of radar used to create 2-D images or 3-D reconstructions of objects. Overcoming the limitations of traditional optical satellites, SAR provides high-resolution images, irrespective of time of day or weather conditions.
The company plans to use the funds to continue to expand operations, and to manufacture and launch two SAR satellites through a strategic partnership with Tyvak, a provider of nano- and microsatellites.
“There is an ever-increasing demand for low-latency SAR data. PredaSAR’s pending constellation will feature constant image capture to end users, resulting in the most powerful small-satellite SAR system ever delivered, that is well-ahead of other satellite technology,” said Chairman Mark Bell, who founded the company in 2019. “Proceeds from the raise will be used to manufacture and launch two SAR satellites through a strategic partnership with Tyvak, the world’s leading innovator and provider of nano- and microsatellites.”
PredaSAR also announced the appointment of retired Air Force Major General Roger W. Teague as CEO.
Major General Roger Teague was commissioned in 1986 as a graduate of the U.S. Air Force Academy. His career included a broad range of assignments primarily acquiring, operating and supporting space systems. Among his important assignments, Teague commanded the 4th Space Operations Squadron, where he led his unit during launch, test and operational activation of three Milstar communications satellites. He also served as the Director, Space Programs, Office of the Assistant Secretary for Acquisition in Washington, D.C.
“We are completely focused on our intent to clearly observe the surface of the earth, anywhere and at any time, so that we can provide actionable data to government and commercial customers,” said Teague. “We are excited for PredaSAR’s future as we rapidly prepare to deliver compelling SAR products and services to our clients.”
Follow @ndahlberg on Twitter and email her at [email protected]
- Miami-based Meta4 announces NFT investment fund backed by Andreessen Horowitz - October 21, 2021
- Meet a 14-year-old who’s coding her future in AI, crypto, telemed, social impact - October 19, 2021
- Student spotlight: FIU trio launches Lokal to help struggling restaurants - October 16, 2021