Ibadan, 17 October 2023. – Cognitive Space has announced raising $4M in seed+ funding during the second quarter of 2023, towards developing its intelligent space automation. The investment round saw participation from venture capital firms like York IE, Draper Associates, and Dolby Family Ventures.
This capital infusion will enable Cognitive Space to advance its AI-powered Software-as-a-Service (SaaS) platform that has the potential to enable satellite constellations to grow and scale. In addition, the funding will play a pivotal role in accelerating Cognitive Space’s go-to-market strategy and expanding its presence in the rapidly evolving space industry.
“We are happy to share the addition of three exceptional investors, York IE, Draper Associates, and Dolby Family Ventures, bringing our total fundraising to $10M and giving us the capital to be market leaders in intelligent space automation. These investors share our mission to propel the industry forward for the decades to come through the power of AI.” said Guy de Carufel, Founder and CEO of Cognitive Space.
The company’s AI-SaaS solution aims to play a pivotal role in shaping the future of satellite management, making it more mission-critical than ever before. Furthermore, the company’s technology can fully empower satellite operators, space infrastructure firms, and Government agencies to harness the space domain for their operational needs.
The intelligent space automation Company believes that space companies need a single scalable system that effectively manages their assets to maximize their capacity and fulfill the mission quickly, one that uses artificial intelligence to adapt to changing business objectives.
“As we build out the space industry, satellite management will become more and more mission-critical,” said Tim Draper, Founder & MP, Draper Associates.”