Satellite manufacturer and Earth observation company Capella Space raised $60 million in fresh capital from the U.S. Innovative Technology Fund as it seeks to meet the growing demand for high-quality synthetic aperture radar imagery and analytics services.
Capella Space said Tuesday the additional equity will support the San Francisco-based company in expanding its satellite imaging capacity and developing new data products, including manufacturing the Acadia satellites.
The new growth equity financing comes after Capella Space raised $97 million through a series C funding round in April 2022.
C-level executive appointments were also announced in line with Capella Space’s growth efforts.
Former Adaptive Biotechnology executive Chad Cohen joined the company as chief financial officer and chief operating officer. In his role, Cohen will spearhead Capella Space’s future expansion and growth.
Paul Stephen was also named as chief information and security officer. He will lead the company’s information technology, as well as network and security operations. The executive previously served as vice president for IT at software company Avalara.