Advancements in technology are making satellite imagery more accessible than ever. Lower launch costs, improved data processing, and new drone capabilities are enabling industries to harness Earth observation data for specialized, high-impact solutions. From agriculture to logistics, companies are leveraging these tools to drive efficiency, reduce costs, and unlock new insights.
New Tech That Makes This Possible
The decreasing cost of satellite launches, driven by reusable rockets and commercial launch systems, has made it feasible for startups to build vertical solutions leveraging low Earth orbit satellite imaging. With costs dropping from over $50,000/kg to around $2,700/kg, launching satellites is no longer restricted to governments and large corporations. This affordability has fueled a surge in Earth observation satellites, more than doubling their number in the past five years from 500 to over 1,000 (source: Millen Anand of Andreessen Horowitz, Big Ideas in Tech for 2025 | Andreessen Horowitz).
Innovation in Drone technology, especially autonomous drones, unlocks richer data sets. For example, Wingstra’s autonomous drones can accurately survey thousands of acres of land in a 24 hour period. While satellites offer broad, large-scale coverage, their revisit times and resolution are limited by orbital mechanics. Drones fill this gap by capturing ultra-high-resolution imagery at a much closer range, enabling detailed inspections of infrastructure, land, and assets.
Advancements in AI are transforming raw satellite imagery into actionable intelligence, making space-based solutions more effective and accessible. Machine learning algorithms can now process vast amounts of satellite data in real time, identifying patterns, detecting anomalies, and generating predictive insights with unprecedented accuracy. As AI continues to advance, the combination of low-cost satellite access and intelligent data processing will unlock even more powerful vertical solutions, driving the next wave of innovation in space-based analytics.
Financial Services: Satellite Data for Investment Insights and Risk Assessment
Hedge funds, insurance companies, and financial analysts are increasingly turning to satellite imagery to gain an edge in their decision-making. Several VC-backed startups are pioneering applications that provide alternative data sources to enhance financial modeling and risk assessments.
- Orbital Insight – Backed by Sequoia Capital and Google Ventures, Orbital Insight uses satellite data to analyze global economic activity. Its platform tracks supply chain disruptions, agricultural yields, and even retail foot traffic to help investors make informed decisions. Apple cofounder Steve Wozniak’s space firm Privateer acquired Orbital Insight in May of 2024.
- Descartes Labs – With backing from Union Square Ventures, Descartes Labs uses satellite imagery to track agricultural trends, such as crop health and yields, offering valuable insights for commodities trading. They were recently acquired by EarthDaily Analytics.
Real Estate: Smarter Valuations and Market Analysis
Satellite data is also transforming the real estate industry, providing key insights into property valuation, land development, and environmental risks.
- Cape Analytics – Backed by leading investors like Formation8 and State Farm Ventures, Cape Analytics leverages AI and satellite imagery to assess property conditions at scale. Insurance firms and real estate investors use its data to evaluate risk and improve underwriting decisions. Moody’s recently announced its plans to acquire Cape Analytics. (source: Moody’s agrees to acquire Cape Analytics, which develops geospatial AI for insurance providers | TechCrunch)
- UrbanFootprint – This startup backed by Social Capital and Citi provides data-driven insights into urban planning, real estate development, and infrastructure investments. By analyzing land use and demographic trends via satellite data, it helps developers make more strategic decisions
- HLRBO- Hunting Land Rental By Owner helps private landowners maximize their leasing revenue by using aerial imagery shot by drones. These aerial images are used to boost the confidence by hunters as they are evaluating which land listing they want to lease. In the future, HLRBO plans to expand with satellite data links to provide an even broader set of data features to further improve the value landowners can charge for leasing their land. HLRBO is backed by our fund as well as Right Side Capital, Comeback Capital and Gopher Angels. For more on HLRBO, see HLRBO On Pace to Grow at 90% Year Over Year, Raises $600k in Additional Capital Led by Great North Venture | Markets Insider.
Beyond Financial Services and Real Estate
There are many other industries where vertical applications are providing immense value through the use of Earth observation data…
In the energy space-
- Kayrros: Backed by Index Ventures and others, Kayrros uses satellite data and AI to monitor global energy markets, track oil storage levels, and predict commodity prices.
In the outdoor recreation space-
- Omnia Fishing– In the outdoor recreation space, Omnia Fishing launched a consumer subscription product called PRO which included a geo-thermal feature where recreational anglers can quickly access timely surface water temperatures from their phone for any lake. The surface water-temperature readings from their satellite partner have proven to be a key data feature which has helped propel Omnia Fishing to reach over 10,000 paid subscribers within its first year of its PRO service launch. Omnia also recently launched AI Summaries for lakes which were exclusively trained through the use of their User Generated Content (UGC) and presented with their proprietary mapping data. In addition to our fund, Omnia is also backed by Dundee Venture Capital, Gopher Angels, Madison Valley Partners, Bread and Butters, and others.
Do you know any startups which are harnessing Earth observation data to provide vertical solutions, especially in the financial services and real estate verticals?
We are actively looking for such early stage startups to invest in for our $41M Great North Ventures Fund II. (Great North Ventures Raises $40 Million Fund II – Great North Ventures)
