Spain’s Xoople raises $130M to build satellites for AI mapping

In short: Xoople, a Spanish startup, raised $130 million to build satellites that collect detailed Earth data for AI.

What happened

Xoople, founded in 2019, says it has closed a $130 million Series B funding round. The round was led by Nazca Capital, with other investors including MCH Private Equity, CDTI (a Spanish government backed tech fund), Buenavista Equity Partners, and Endeavor Catalyst.

The company plans to build a group of satellites, often called a constellation (think of it like having many cameras in the sky instead of just one). These satellites are meant to gather “optical” data, which is basically images and other information captured using light.

Xoople also announced a deal with L3Harris Technologies, a large U.S. space and defense contractor. L3Harris will start building the sensors for Xoople’s spacecraft. Sensors are the parts that do the measuring and image capture, like the “eyes” of a satellite.

For now, Xoople relies on public satellite data, including images from the European Space Agency’s Sentinel-2 satellites. It is also working on distribution partnerships so businesses can access Xoople’s data through platforms they already use, including Microsoft and Esri.

Why it matters

More companies want to use AI to understand what is happening in the real world, like checking crop health, tracking disaster damage, or monitoring large construction projects. But AI tools are only as useful as the data they learn from. Xoople is betting that businesses will pay for clearer, more reliable Earth data, even as it competes with companies that already have satellites in orbit.

Source: TechCrunch AI