Xoople from Spain raises $130 million for Earth mapping

Spanish startup Xoople, founded in 2019, has raised $130 million in a Series B round led by Nazca Capital. Xoople is developing a satellite constellation to collect precise data aimed at deep learning models. The company aims to become the go-to source of ground truth for businesses, focusing on data quality as a key differentiator.

CEO and co-founder Fabrizio Pirondini stated that other investors include MCH Private Equity, CDTI, and Buenavista Equity Partners. The company also announced a partnership with U.S. space and defense contractor L3Harris Technologies to develop sensors for Xoople's satellites, which are designed to collect data that will significantly outperform existing monitoring systems.

Despite its focus on high-quality data, Xoople is entering a competitive market with established players like Vantor, Planet, and Airbus, which already operate satellites and develop AI-focused datasets. Pirondini noted that the company continues to raise capital to fully fund its development, although he did not disclose the company's valuation after the current funding round.

Xoople plans to embed its data and solutions directly into its clients' ecosystems so they can provide these services to their users. Potential applications include government agencies tracking transportation networks, monitoring crop health in agribusiness, and large firms overseeing infrastructure projects.

Interestingly, Xoople is preparing its data distribution strategy even before it has its own data source, relying on publicly available data such as that collected by the European Space Agency's satellites. This allows the company to prepare the market in advance by integrating its solutions into platforms like Microsoft and Esri, which are already used by government and corporate clients.