Funding Round attributes
Horizon Technology Finance Corporation has provided a $10 million venture loan facility to Ursa Space Systems, a company specializing in satellite data analytics. Ursa Space, headquartered in Ithaca, New York, uses Earth-observing satellite data to offer geospatial intelligence that supports a variety of industries, including natural resource management, infrastructure monitoring, and environmental analysis. The company combines advanced machine learning models with satellite imagery to deliver actionable insights that help organizations across the globe make data-driven decisions. The $10 million funding will be used to enhance Ursa Space's technology platform, expand its satellite data analytics capabilities, and strengthen its infrastructure to meet the growing demand for geospatial intelligence. The loan, which is structured with a 36-month term, will also include warrants that allow Horizon Technology Finance to purchase shares in Ursa Space, although the specific details regarding the interest rate and the number of warrants have not been disclosed in the press release. Horizon Technology Finance is known for providing debt financing to venture-backed companies in high-growth sectors such as technology and life sciences, enabling businesses to access the capital needed for expansion without giving up equity. Horizon’s role in this transaction underscores its focus on supporting companies like Ursa Space, which operate at the forefront of emerging industries. Robert D. Pomeroy Jr., CEO of Horizon Technology Finance, remarked on the loan, emphasizing that Ursa Space’s innovative use of satellite data positions it as a leader in the geospatial intelligence market. He noted that the funding will help Ursa Space continue to scale its operations and deliver valuable insights to a wide range of industries. In a statement, Ursa Space’s CEO, Nathan M. Hagens, expressed appreciation for the partnership, highlighting that the financing will enable the company to solidify its position in the satellite data analytics space and expand its capabilities to better serve its growing customer base. Ursa Space has gained recognition for its ability to provide real-time, high-quality satellite data that helps businesses optimize their operations, track natural resources, and mitigate risks. The company’s technology has been deployed by organizations in sectors ranging from energy and agriculture to government and defense. As demand for satellite data-driven solutions continues to increase, Ursa Space is well-positioned to leverage this new funding to expand its offerings and continue its mission of delivering actionable intelligence from space. This venture loan marks an important step in the company’s growth trajectory, providing the capital needed to enhance its technological infrastructure and further develop its product offerings. The deal also highlights the growing interest in satellite data and space technology solutions, as companies and governments increasingly turn to these technologies to address a wide range of challenges, from climate change to global supply chain optimization. The loan arrangement also exemplifies the role of venture debt in helping companies scale without giving up equity, a crucial factor for high-growth firms looking to maintain control while accessing capital. With this new funding, Ursa Space is poised to continue its expansion and further cement its position as a key player in the satellite data analytics industry.
