Spottitt Closes 800K USD Bridge Financing Round
In only 12 months since its launch, our AI-powered geospatial analytics service, Spottitt Metrics Factory, has gained significant traction and annual recurring revenue (ARR) among critical infrastructure owners.
Today, we are thrilled to announce the successful closure of an $800,000 bridge financing round.
This round has been led by US based VC fund, Right Side Capital Management, with support from our existing shareholders, KIC InnoEnergy SE, three amazing angel investors, and Spottitt founders CEO Lucy Kennedy and CFO Paolo Senes. We could not have achieved this funding milestone so swiftly and smoothly without the Qubit Capital team.
Spottitt Provides a Solution to Automatically Detect Changing Conditions on the NSW Road & Rail Network
Spottitt became Finalist in Transgrid’s Challenge for real-time insights for company’s easement route planning and Champion for Transport for NSW Challenge for tracking safety of roads and railways using satellite data.
The New South Wales network includes 6,800 route kilometres of operational rail lines and 17,600 km of state roads and highways.
TfNSW has identified Earth Observation satellites as a valuable addition to the monitoring technologies currently deployed and was looking for innovation to automatically detect changing conditions of network and potential risk modelling.
Deciding Between Satellites and Drones for Geospatial Data Collection: A Comparative Analysis
In recent times, the landscape of asset monitoring has witnessed a transformative shift with the emergence of advanced technologies, particularly satellite and drone systems.
The utilization of Earth observation satellites for monitoring purposes began gaining momentum in the late 20th century. Free government programs, such as those initiated by NASA and the European Space Agency (ESA), played a pivotal role in providing open access to satellite imagery. These programs not only facilitated scientific research but also allowed industries to leverage satellite data for monitoring critical infrastructure and environmental changes.
Spottitt to Collaborate with Transgrid and Transport for NSW
Spottitt has been selected by Transport for NSW and Transgrid to apply satellite-based and AI-powered technology to automatically detect changing conditions in the NSW road and rail network and to provide real-time insights for Transgrid’s easement route maintenance and planning, respectively.
These projects will be conducted within the GRAVITY Challenge 06 program led by Deloitte Australia, an initiative that brings together start-ups, scale-ups, entrepreneurs and universities to address real industrial and environmental problems using space data. The Collaborate Phase will continue until mid-March 2024.
Weathering the Storm: Climate Change Threats to Power Grid Infrastructure
As our global climate continues to undergo profound transformations, the challenges posed by climate change are increasingly felt across various sectors of society, including critical infrastructure.
Climate change, characterized by rising temperatures, increased occurrences of extreme weather events, and shifting precipitation patterns, have exposed vulnerabilities within power networks. Often designed under the assumptions of historical climate patterns, now they are increasingly susceptible to the new normal of extreme weather, prolonged heat waves, and more severe freezing.
InSAR Analysis and Corner Reflector Experiments for Infrastructure Stability Monitoring Using Sentinel-1 Imagery
National Grid Energy Transmissions (NGET), which owns and maintains the high-voltage electricity transmission network in England and Wales, conducts invasive analysis annually to monitor the towers most at risk of movement. Moreover, the NGET inspection teams perform annual line walking activities and monthly substation inspections during which they visually assess the presence of asset motion. These interventions are crucial to avoid issues which may cause expensive assets replacements or reconstruction. It costs NGET over £6 million per year to monitor only 1% of their most at risk assets.
Utilizing Satellite Data to Mitigate Pipeline Failures and Risks
The operation of oil and gas transmission pipelines entails inherent risks associated with the potential for unintentional product releases. Oil and gas product releases have traditionally been treated as safety issues due to the risk of explosions and asphyxiation, but increasingly, the environmental impact of unintentional product releases is fast becoming the key risk to be reduced and avoided via Leak Detection and Repair (LDAR) programs.
Behind the Spottitt MF Curtains: Role of Machine Learning in Analyzing Satellite Imagery
Spottitt is known for utilising satellite data to offer infrastructure owners valuable insights into the diverse external risks affecting their assets. But how precisely do we derive these insights from satellite imagery? The answer is – machine learning, and today we’re inviting you behind the curtains of our product to unveil the whole process.
Spottitt Metrics Factory Advances to the Next Level
As more organizations turned to Spottitt for monitoring growing numbers of assets, we recognized that the traditional geospatial platform’s map view, which was effective for small-scale monitoring, became cumbersome when dealing with larger datasets. So, we embarked on the development of Spottitt Metrics Factory. Since its beta launch in late 2022, ten organizations from around the world have been delighting in the ability to view and interact with their asset monitoring data using the product.
Top 10 Myths About Satellite Images and Analytics for Asset Monitoring. Part 2
In this piece, we delve into the realm of satellite technology, focusing on the determination of vegetation height and the planning of routes for electrical distribution lines.
Additionally, we examine the algorithm that empowers open-source meters in resolution SAR sensors to measure millimeters per year of land or asset motion. We also provide an overview of the driving forces behind the application of satellite technology for monitoring methane and other greenhouse gases.
