Geospatial analytics startup Ursa, which builds business intelligence products based on satellite radar imagery, announced Thursday that it has raised $5.7 million in new venture funding in a round led by RRE Ventures. Paladin Capital and S&P Global also participated in the funding.
The Ithaca, NY-based Ursa builds data analytics products based on satellite images using synthetic aperture radar (SAR). SAR images are of particular interest to customers because it captures information that traditional satellite imagery can't. Its biggest product right now is its weekly report on global crude oil supply, based on SAR imagery of over 300 different oil terminals.
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