Total amount raised
$573.9 Millions
Latest funding date
12/1/2021
Location
Planet has successfully raised significant funding through multiple rounds, attracting notable investors such as Google and Koch Strategic Platforms. The company specializes in building small satellites to deliver critical information about the changing planet.
Keep reading to explore the intricacies of Planet's fundraising journey and the investors backing this innovative platform.
What Is Planet?
Planet, founded on December 24, 2010, is an aerospace and data analytics company based in San Francisco, California. The company was established by Chris Boshuizen, Robbie Schingler, and Will Marshall, all former NASA employees.
Planet specializes in designing, building, and operating a fleet of compact Earth-imaging satellites. These satellites provide geospatial insights and data analytics through an online platform, enabling customers to access global and local insights.
With a workforce of 501-1000 employees, Planet continues to innovate in the field of satellite imagery and Earth data analytics, helping organizations make informed decisions based on a multidimensional view of our changing planet.
How Much Funding Has Planet Raised?
- Series A
- Amount Raised: $13.1M
- Date: June 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch initial satellite prototypes.
- Series B
- Amount Raised: $52M
- Date: December 2013
- Lead Investors: Yuri Milner
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for the launch of 28 satellites and expand the team for data handling.
- Series C
- Amount Raised: $92.8M
- Date: January 2015
- Lead Investors: DCVC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance satellite technology.
- Series C
- Amount Raised: $23M
- Date: April 2015
- Lead Investors: IFC Venture Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand satellite fleet and data analytics capabilities.
- Series D
- Amount Raised: $168M
- Date: February 2019
- Lead Investors: Prelude Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance global satellite coverage and data services.
- Grant
- Amount Raised: Not publicly disclosed
- Date: April 2021
- Lead Investors: BloombergNEF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support sustainability and environmental monitoring initiatives.
- Post-IPO Equity
- Amount Raised: $200M
- Date: December 2021
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and develop new satellite technologies.
Total Amount Raised: $548.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. It is a subsidiary of Alphabet Inc.
- Investment Focus Areas: Search engines, advertising, cloud computing, software, hardware.
- Notable Investments: Waymo, DeepMind, Calico.
- Koch Strategic Platforms
- Details: Koch Strategic Platforms is a subsidiary of Koch Industries, focusing on growth equity and strategic investments. It aims to support companies with transformative potential.
- Investment Focus Areas: Energy, industrials, technology, healthcare.
- Notable Investments: Infor, Guardian Industries, Molex.
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is the world's largest asset manager.
- Investment Focus Areas: Equities, fixed income, real estate, alternative investments.
- Notable Investments: Apple, Microsoft, Amazon.
- BloombergNEF
- Details: BloombergNEF is a research organization that provides insights and data on clean energy, advanced transport, digital industry, innovative materials, and commodities.
- Investment Focus Areas: Clean energy, advanced transport, digital industry.
- Notable Investments: Not publicly disclosed.
- Prelude Ventures
- Details: Prelude Ventures is a venture capital firm that invests in companies addressing climate change. It focuses on early-stage investments.
- Investment Focus Areas: Energy, agriculture, transportation, manufacturing.
- Notable Investments: QuantumScape, Planet, Zymergen.
What's Next for Planet?
Planet's future is brimming with opportunities, particularly in expanding its constellation of Earth-imaging satellites. By providing high-resolution, frequently updated imaging data, Planet aims to democratize access to planetary information for organizations monitoring natural resources, agriculture, and mapping. This vast market potential positions Planet for significant growth.
To capitalize on these opportunities, Planet may seek additional funding to support its ambitious goals. The ongoing expansion and technological advancements suggest potential for future rounds of investment. However, challenges such as the short lifespan of satellites and the need to handle large volumes of data remain. Competition from other microsatellite companies also adds to the complexity of their journey.
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