Geospatial Mapping Firm Obtains New Funding
Picterra Lands $3.3 Million in New Funding
Picterra announced $3.3 million in new funding that it says will help the firm further democratize geospatial mapping data. Picterra’s geospatial software enables users to extract satellite and drone imaging insights through a combination of artificial intelligence and human expertise. The funding will go toward growing Picterra’s team and building upon its early successes, such as a community-built library of hundreds of deep learning models; reducing the training of deep learning models; and democratizing its geospatial mapping search engine.
Seed round investors include Space Capital, the world’s leading space investor; Omidyar Network, the impact investment firm established by Pam and Pierre Omidyar, the founder of eBay; Atlantic Labs; and another European venture capital firm.
Picterra provides AI as a service for Earth Observation imagery, with the aim to put powerful deep learning models at users’ fingertips. Its platform is driven by a community of users who pool their data and expertise to collectively create a library of deep learning algorithms. This approach gives everyone – not just data scientists and developers – the opportunity to analyze and draw real-time insights from satellite and aerial imagery, according to Picterra. And, by enabling quicker and more accurate monitoring of the Earth’s surface, Picterra, its platform, and community of users further help geospatial technology address pressing issues, like climate change.