Synspective is building a constellation system for earth observation mini-satellites employing Synthetic Aperture Radar (SAR) and integrates SAR data with a variety of ground truth data.

The Japanese startup announced today that it has secured 11.9 billion yen (over $96 million US) in a Series B round from investors as well as loans from Shoko Chukin Bank and Mitsubishi UFJ Bank.

This follows the company’s Series A round back in July of 2019, and brought their sum of funding to date up to 22.8 billion yen (about $185 million US) . Participating investors in the latest round are as follows.

• Sompo Japan Insurance
• Mori Trust
• Nomura Sparx Investment
• Pavilion Capital
• Sparks Innovation for Future
• JAFCO Group (TSE: 8595)
• Sumitomo Mitsui Trust Investment
• SBI Group
• Nikon-SBI Innovation Fund
• Shinsei Corporate Investment Group
• Japan Post Capital
• aSTART
• Environmental Energy Investment
• Abies Ventures
• Mizuho Capital

Of these, aSTART, Jafco Group, Abies Ventures, Mori and Last, and SBI Group (formerly as SBI Investment) have participated in previous rounds.

Synspective was founded in February of 2018 by CEO Motoyuki Arai and co-founder/managing director Seiko Shirasaka (Shirasaka is a professor at System Design and Management, Keio University). Arai was previously working for an American accounting firm while attending the University of Tokyo where he obtained a PhD for Technology Management for Innovation. Subsequently, he was involved in assisting Saudi Arabia to implement renewable energy systems as well as working with the Japanese Ministry of Economy, Trade, and Industry to help Japanese companies expand into this region.

Synspective is building a constellation system for earth observation mini-satellites employing SAR and integrates SAR data with a variety of ground truth data. Using machine learning and other engineering techniques, the startup extracts meaning and context from the data to provide solutions to meet clients’ problems. In September of 2020, the conpany launched “Land Displacement Monitoring,” which enables millimeter-scale ground deformation monitoring over wide areas based on image analysis of SAR satellites.

The company says the latest funding allows them to further accelerate the construction of its constellation of 30 SAR satellites and its data analysis technology.

Startups in this vertical, particularly in Japan, include SAR satellite developers such as iQPS and Sigma-SAR. The former closed its Series B round in February with 4.9 billion yen (about $40 million US) in funding, which brought their cumulative sum of funding up to 8.25 billion yen (about $67 million US).

via PR Times

Synspective is building a constellation system for earth observation mini-satellites employing Synthetic Aperture Radar (SAR) and integrates SAR data with a variety of ground truth data. The Japanese startup launched today a new service called Land Displacement Monitoring, which enables millimeter-scale ground deformation monitoring over wide areas based on image analysis of SAR satellites.

Traditionally, understanding the risk of land settlement and landslide risk over wide areas has required a lot of time and effort. The service can be used to reduce the cost and time involved in observing and managing the risk of ground deformation and can be used to manage risks associated with construction projects, airport maintenance and underground construction, the company said.

Synspective has been conducting Proof-of-Concept (PoC) projects with several companies as well as the Singapore Land Authority. Based on the feedback from these early users, the service has been improved and its user-friendly web-based interface requires no installation of software and has now allowed even users who are less familiar with satellite data to intuitively understand the results of the analysis.

Synspective was founded in February of 2018 by CEO Motoyuki Arai and co-founder/managing director Seiko Shirasaka (Shirasaka is a professor at System Design and Management, Keio University). The company announced about $80 million funding in a series A round last year, which let them make the fastest record in terms of securing such a large amount funds in such a short period since the launch of a company according to a report by Japanese space business consultancy CSP Japan.

Synspective signed agreements with Arianespace in April of 2019 and with RocketLab in April this year for the launch of its StriX-alpha SAR satellites, which is scheduled to be launched by the end of this year. The company plans to build a constellation of these satellites to offer high-frequency and stable monitoring service leveraging it.

Synspective plans to launch one small SAR satellite by 2020, six satellites by 2022, and 25 satellites after that. So far, the company has secured funds enough for six satellites in operation, which will enable on-demand earth observation at least one time a day for 99 cities with an over-one million population in Asia.