Dublin-headquartered space technology start-up Ubotica Technologies has raised €4 million in seed funding to grow its team and fund the next generation of the CogniSat platform.
The round was led by Atlantic Bridge and includes co-investment from US based Dolby Family Ventures and Seraphim Space.
Founded in 2017 by Fintan Buckley, John Bourke and Aubrey Dunne, the Dublin-headquartered company's products and services are used by the global space industry to deliver real-time insights, including the energy efficient CogniSat on-board processing system.
Its team of AI engineers are based in DCU Alpha in Dublin, with a team of computer vision engineers in Spain based in UCLM, Ciudad Real, and a team of space systems experts in the Netherlands at the TU Delft Campus.
“We are at the heart of semi-autonomous satellite systems that provide real-time insights from flexible on-board processing and that use affordable, low energy hardware,” said Fintan Buckley, co-founder and chief executive of Ubotica Technologies.
"The Ubotica CogniSat platform was developed by technology innovators with deep insight of processing hardware, computer vision software and AI system integration. CogniSat technology has already been flight proven in space projects with partners in Europe and the USA, including with NASA JPL on the International Space Station and with the European Space Agency (ESA) on Phi-Sat-1."
Recruitment is already underway as the company seeks to expand the team.
"We are excited to join the Ubotica team on their journey to expand the capabilities of edge devices, including satellite systems for the future," said Gerry Maguire, general partner with Atlantic Bridge.
“Based on the team’s 15-year heritage developing hardware for edge systems at Movidius, we are confident that Ubotica Technologies has an excellent foundation on which to advance this rapidly growing business.”