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Planet Labs raises $95 million
Posted: Wed, Jan 21, 2015, 7:11 AM ET (1211 GMT)
Planet Labs, a company developing a fleet of small satellites to provide daily images of the entire Earth, announced a $95-million investment round Tuesday. The company said it completed a "first closing" of a $70-million Series C round, led by venture capital fund Data Collective, and also closed a $25-million debt facility from Western Technology Investment. The company previously raised $65 million in two earlier rounds. The San Francisco-based company builds its own CubeSat-class small spacecraft to provide medium-resolution images of the Earth, with the goal of operating a fleet that can take such imagery on a daily basis. The company has launched 73 such spacecraft to date, most of them technology demonstration spacecraft deployed from the International Space Station.
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