New York private equity firm Antarctica Capital’s joining of its EarthDaily Analytics and Descartes Labs businesses “underscores the growing role of AI in reshaping satellite operations and data insights”, according to the SpaceNews platform.
The news service said New Mexico-based Descartes Labs could “supercharge” EarthDaily’s AI-driven geospatial capabilities when its delayed Earth observation satellite constellation launch happens. Originally planned for 2023, that is now scheduled for next year.
Antarctica Capital formed EarthDaily Analytics from the assets of bankrupt UrtheCast in 2021 and gained control of Descartes Labs the following year.
SpaceNews said Loft Orbital was under contract to build and operate EarthDaily’s 10-satellite constellation.
“By acquiring Descartes Labs, EDA will offer more powerful analytics in sectors such as insurance, energy, and defence, utilizing AI for tasks like change detection and large-scale data analysis,” it reported.
Descartes Labs’ core customer base includes mining and mineral exploration companies.
EarthDaily (EDA) CEO Don Osborne said established Descartes Labs commercial products, including Marigold, Iris and Ascend, as well as EDA’s Retina and Wayfinder, would be “enhanced by the powerful data provided by the EarthDaily Constellation, set to launch in 2025”.
The deal also “enhances EDA” as a platform for future geospatial acquisitions.
“EDA and Descartes Labs share a vision for Earth observation in which the value of cutting-edge technology is firmly rooted in its ability to provide material support to decision makers on the ground,” Osborne said.
“Leveraging our core technology this acquisition instantly positions the combined EDA as a highly relevant player in multiple fast-growing, high-value markets, building on our established position as a global leader in the agriculture and ag insurance markets.
“Additionally, this significant expansion positions us to offer a comprehensive, end-to-end geospatial and AI service offering that meets the complex and multifaceted needs of even the largest civil government and commercial partners.
“The full extent of this synergy will become undeniable with the 2025 launch of the EarthDaily Constellation, which will change the game in EO with daily imaging of the world’s landmasses and relevant maritime areas, creating a scientific-quality data source purpose-built for AI applications.”
Antarctica Capital managing partner Chandra Patel said the PE firm had a “strong institutional commitment to the geospatial and data analytics sectors”.
“We believe this merger will unlock significant opportunities for growth and innovation, with the newly combined Company positioned to be a vertically integrated industry leader focused on leveraging its data, software and data analytics as a service platform, driven by AI and machine learning.”
