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Argentine Space Startup Satellogic Goes Public on Nasdaq

The company went public via SPAC. It is possible to provide high resolution satellite images to improve decision making in different industries.

Don't worry, we speak : Español (Spanish), too!

Satellogic is a leading provider of high-resolution satellite imagery. It began trading on NASDAQ under the ticker symbol $SATL after it was able to complete its special purpose acquisition company (SPAC) merger.

The Argentine company had already announced its business combination with CF Acquisition Corp. V in July 2021, with a valuation of US$850 million. The space tech takes approximately US$262 million from the transaction, which includes a US$100 million PIPE led by SoftBank’s SBLA Advisers Corp. and SPAC backer Cantor Fitzgerald.

In addition, it received US$150 million in private placement financing from Liberty Strategic Capital, who is the private equity firm of former US Treasury Secretary Steven Mnuchin.

Last year, Satellogic had signed an agreement with SpaceX, the aerospace company of billionaire Elon Musk, for the launch and orbiting of its nanosatellites. With the IPO, it could become one of the most important companies in Argentina.

A Benchmark in Latin Space Tech

Space Tech is recognized for being the world’s first vertically integrated geospatial analytics company. It is capable of delivering affordable, high-frequency, high-resolution, end-to-end geoanalytic imagery. With its network of nanosatellites, the company produces affordable, commercial-grade Earth observation data to support everyday decision-making.

The Buenos Aires-based startup is known for its vertical integration. Satellogic has manufactured its own series of spacecrafts with advanced data processing services.

Today, Satellogic can provide invaluable data and images to various industries, from agriculture to the military, who can see how the world is changing before our eyes.

It is estimated that by 2025 the startup will have more than 300 satellites in orbit. These satellites will go around the earth every 90 minutes to carry out various checks on a daily basis and collect information through their cameras. With this type of information, the entire surface of the earth could be observed.

You might also be interested in reading: Ualá arrives in Colombia with an investment of US$80 million

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