Ursa Space Systems November 2024 Debt Financing Funding Round

Horizon Technology Finance Corporation, a leading specialty finance company that provides capital to venture-backed companies in the technology, life sciences, and other high-growth sectors, has announced the provision of a $10 million venture loan facility to Ursa Space Systems, a prominent player in the satellite data analytics industry. The financing arrangement will help Ursa Space advance its operational capabilities and fuel its continued growth within the expanding space technology sector.Ursa Space Systems, based in Ithaca, New York, specializes in providing actionable satellite-based insights and analytics. The company uses data collected from Earth-observing satellites to help businesses and governments make data-driven decisions. Ursa's offerings range from tracking natural resources to monitoring infrastructure and climate change impacts. The company leverages proprietary software and advanced machine learning models to provide insights in real time, empowering organizations to optimize operations and reduce risks.The $10 million venture loan facility provided by Horizon Technology Finance is designed to support Ursa Space’s ongoing efforts to scale its platform and enhance its services. According to the press release, the loan will specifically be used to further expand Ursa Space’s satellite data analytics offerings and strengthen its infrastructure, enabling the company to better meet the growing demand for geospatial intelligence solutions.The loan is structured with a term of 36 months, with an interest rate based on the prime rate plus a margin. The agreement also includes warrants to purchase shares of Ursa Space’s stock. The financial terms of the loan, including specific interest rates and warrant coverage, are not disclosed in full detail in the press release.Horizon Technology Finance, which specializes in providing debt financing to venture-backed companies, has a long history of supporting high-growth businesses in the technology and life sciences industries. By offering structured financing solutions, Horizon allows these companies to access the capital necessary for expansion without giving up equity or control. The firm’s portfolio includes investments in a diverse range of companies, including those in the aerospace and defense, software, and biotech sectors.In a statement included in the press release, Horizon Technology Finance CEO, Robert D. Pomeroy Jr., emphasized the potential of Ursa Space Systems and the importance of the satellite data analytics market. “Ursa Space is at the forefront of providing critical geospatial intelligence, and we are pleased to support the company as it continues to scale and grow its innovative capabilities,” said Pomeroy. He added, “The company's advanced technology and high-quality data solutions offer significant value across a wide range of industries, and we look forward to supporting Ursa Space in its next phase of growth.”From Ursa Space’s perspective, the funding is seen as an important step in accelerating its mission to improve decision-making processes for businesses and government entities using satellite data. Ursa Space CEO, Nathan M. Hagens, also expressed his enthusiasm about the partnership with Horizon Technology Finance. “This financing will allow us to further strengthen our position as a leader in the satellite data analytics industry,” Hagens stated. “We are excited about the future and look forward to continuing to deliver transformative solutions that provide our customers with critical insights.”The funding represents another milestone in Ursa Space’s journey as it continues to build out its infrastructure and services to meet the increasing demand for satellite-driven analytics. The company has gained recognition for its ability to leverage satellite data for commercial and governmental applications, positioning itself as a key player in the growing field of space technology.This venture loan facility is a significant move for both Horizon Technology Finance and Ursa Space, underscoring the increasing interest in the commercial satellite data industry and the critical role that financing plays in supporting growth within this dynamic sector.

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.

Horizon Technology Finance Corporation, a leading specialty finance company that provides capital to venture-backed companies in the technology, life sciences, and other high-growth sectors, has announced the provision of a $10 million venture loan facility to Ursa Space Systems, a prominent player in the satellite data analytics industry. The financing arrangement will help Ursa Space advance its operational capabilities and fuel its continued growth within the expanding space technology sector.Ursa Space Systems, based in Ithaca, New York, specializes in providing actionable satellite-based insights and analytics. The company uses data collected from Earth-observing satellites to help businesses and governments make data-driven decisions. Ursa's offerings range from tracking natural resources to monitoring infrastructure and climate change impacts. The company leverages proprietary software and advanced machine learning models to provide insights in real time, empowering organizations to optimize operations and reduce risks.The $10 million venture loan facility provided by Horizon Technology Finance is designed to support Ursa Space’s ongoing efforts to scale its platform and enhance its services. According to the press release, the loan will specifically be used to further expand Ursa Space’s satellite data analytics offerings and strengthen its infrastructure, enabling the company to better meet the growing demand for geospatial intelligence solutions.The loan is structured with a term of 36 months, with an interest rate based on the prime rate plus a margin. The agreement also includes warrants to purchase shares of Ursa Space’s stock. The financial terms of the loan, including specific interest rates and warrant coverage, are not disclosed in full detail in the press release.Horizon Technology Finance, which specializes in providing debt financing to venture-backed companies, has a long history of supporting high-growth businesses in the technology and life sciences industries. By offering structured financing solutions, Horizon allows these companies to access the capital necessary for expansion without giving up equity or control. The firm’s portfolio includes investments in a diverse range of companies, including those in the aerospace and defense, software, and biotech sectors.In a statement included in the press release, Horizon Technology Finance CEO, Robert D. Pomeroy Jr., emphasized the potential of Ursa Space Systems and the importance of the satellite data analytics market. “Ursa Space is at the forefront of providing critical geospatial intelligence, and we are pleased to support the company as it continues to scale and grow its innovative capabilities,” said Pomeroy. He added, “The company's advanced technology and high-quality data solutions offer significant value across a wide range of industries, and we look forward to supporting Ursa Space in its next phase of growth.”From Ursa Space’s perspective, the funding is seen as an important step in accelerating its mission to improve decision-making processes for businesses and government entities using satellite data. Ursa Space CEO, Nathan M. Hagens, also expressed his enthusiasm about the partnership with Horizon Technology Finance. “This financing will allow us to further strengthen our position as a leader in the satellite data analytics industry,” Hagens stated. “We are excited about the future and look forward to continuing to deliver transformative solutions that provide our customers with critical insights.”The funding represents another milestone in Ursa Space’s journey as it continues to build out its infrastructure and services to meet the increasing demand for satellite-driven analytics. The company has gained recognition for its ability to leverage satellite data for commercial and governmental applications, positioning itself as a key player in the growing field of space technology.This venture loan facility is a significant move for both Horizon Technology Finance and Ursa Space, underscoring the increasing interest in the commercial satellite data industry and the critical role that financing plays in supporting growth within this dynamic sector.