Aspia Space secures £2.3m in funding led by The FSE Group to expand AI-powered Earth observation platform

Cornwall-based Earth Observation (EO) technology company Aspia Space has secured £2.25 million in funding, including a £1 million equity investment from the British Business Bank’s South West Investment Fund managed by The FSE Group.

The investment supports the growth of Aspia Space’s land intelligence platform, which leverages two AI technologies: ClearSky and EarthPT. ClearSky is a deep learning algorithm that delivers uninterrupted, cloud-free satellite imaging data, and EarthPT is Aspia’s foundation model for Earth Observation. By combining advanced machine learning with expert human analysis, Aspia provides organisations with a consistent, reliable stream of land intelligence, overcoming the long-standing issue of cloud cover impeding Earth Observation.

Founded in 2021 following extensive academic research, Aspia Space is applying its proprietary technology to global challenges across agriculture, insurance, land management, and environmental monitoring.

Based at Tremough near Falmouth, the company expects the funding to create 10 new roles within the next 12 months and anticipates building a team of over 100 by 2030.

Together, ClearSky and EarthPT allow Aspia to monitor and interpret change on the land surface, uninterrupted by clouds. By converting observational data into interpretable insights, Aspia delivers timely intelligence for its customers, enabling data-driven decision-making when it is most needed. This leads to improvements in efficiency, productivity, and sustainability across a range of sectors.

The EO market is expected to grow significantly over the next five years, driven by rising demand for sustainable agriculture, disaster risk management, and climate adaptation. A 2024 Deloitte and World Economic Forum report predicts the EO insights market will surpass $700 billion by 2030, playing a pivotal role in reducing global greenhouse gas emissions by two gigatonnes annually.

Aspia Space is already earning recognition from industry players for its reliable, high-quality insights, and is well-positioned to become a leading force in EO innovation globally.

At Aspia we are passionate about bridging the gap between state-of-the-art technology at the interface of AI and EO and the consumability of land intelligence data derived from it. We’ve developed a market-leading, unified solution for consumers of downstream EO analytics, and this investment will enable us to deliver our products to a much broader market. This is a key milestone on our journey to becoming a £40 million turnover business within five years. We’re delighted to receive this funding and are excited about the next phase of our growth.

James Geach, Co-founder & Chief Scientific Officer

Aspia Space’s technology is far ahead of the curve in a rapidly expanding market. Their strong leadership, deep scientific foundations and robust intellectual property place them in an excellent position to lead ongoing innovation in EO. Their offering outperforms many other ventures in this area, and we’re excited to support them as they work towards ambitious growth targets.

Anna Staevska, Investor at The FSE Group

By combining world-class AI expertise with a clear vision for tackling global challenges, Aspia Space is positioning the UK at the forefront of the rapidly expanding Earth Observation market. The South West Investment Fund was created to help pioneering businesses like this realise their growth potential, create high-value jobs, and deliver real economic and environmental impact. We are delighted to support their next phase of growth.

Paul Jones, Investor at British Business Bank

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