The microsatellite firm Nara Space Technology, based in South Korea, revealed on Friday that ten investors had contributed a 20 billion won ($14.5 million) series B investment to help the company expand.
Previously, Nara Space’s pre-Series A and series A raised 13.5 billion won ($9.8 million). With this additional funding, Nara Space hopes to speed the development of methane-monitoring satellites, launch more satellites, and create a constellation of satellites.
The company created and launched Observer 1A, South Korea’s first commercial microsatellite for Earth observation, in November of last year. The assistance of the goal of developing a methane-monitoring microsatellite in partnership with Seoul National University, the Korea Astronomy and Space Science Institute, and Scanway Space of Poland, Nara Space has been working on the Narsha Project since September of last year.
The business clarified that the photographs, which feature a sizable farm in Texas known as Milo Centre, demonstrate the health of crops by highlighting the ability of healthy leaves to reflect near-infrared light strongly, a feature that makes it possible to evaluate the circumstances for crop growth.
