Suma Capital Adds $10M to Hydrosat’s Thermal Satellite Series B
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Hydrosat has secured a $10 million investment from Suma Capital as an extension of its Series B financing. The investment came through SC Net Zero Ventures, a fund within Suma Capital’s SC Venture strategy.
Suma Capital joins a shareholder base that grew earlier this year when Hydrosat raised $60 million with participation from Hartree Partners, Subutai Capital Partners, Space 4 Earth and Truffle Capital. Existing backers include Luxembourg Future Fund, OTB Ventures, Blue Bear Capital, Statkraft Ventures, Cultivation Capital and Santa Barbara Venture Partners.
Hydrosat is based in Washington, DC. It provides thermal-infrared satellite data and AI-based analytics that help governments and businesses monitor water resources, improve agricultural output and manage critical natural resources.
Its IrriWatch platform turns thermal satellite data into practical information, so customers can assess crop water stress, irrigate more efficiently, raise farm productivity and manage resources more sustainably. IrriWatch serves more than 90 customers in more than 70 countries through a mix of SaaS offerings priced per hectare and recurring thermal data subscriptions for agriculture, insurance and public sector organizations.
The company operates a constellation of thermal-infrared satellites that covers more than 10 million square kilometers a day. Suma Capital’s investment will support Hydrosat’s growth in Spain and the continued expansion of its constellation for more frequent and wider coverage. It will also fund larger engineering and commercial teams and faster development of new tools for water resource management, critical infrastructure monitoring and wildfire detection. Pieter Fossel is CEO.
The Iberian Peninsula is one of the most water-stressed regions in Europe, facing drought, heavy agricultural water demand and increasingly severe wildfires. Suma Capital plans to help Hydrosat reach corporates and institutions across the region.
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