Extellis, a satellite imaging company, secured $6.8 million in an oversubscribed seed round led by Oval Park Capital to fund its first satellite deployment and imagery services.

Information on the Target

Extellis is a pioneering satellite imaging company focused on providing reliable, all-weather access to Earth observation services with a high-volume capacity. Recently, the company successfully completed an oversubscribed seed funding round of $6.8 million, primarily led by Oval Park Capital. This funding will be allocated to support Extellis' inaugural satellite deployment and the initial rollout of its imagery services, in collaboration with analytics and distribution partners.

The company leverages patented metasurface technology which allows for an unparalleled combination of wide-area scanning and high-resolution imaging. Rooted in over a decade of development in the lab of co-founder Prof. David Smith at Duke University, its technology has benefitted from backing by Duke New Ventures and the Gilhuly Accelerator Fund. Additionally, a $2.3 million grant from the Defense Advanced Research Projects Agency (DARPA) has played a crucial role in advancing this innovative antenna technology.

Industry Overview in the Target's Specific Country

The satellite imaging industry in the United States has experienced substantial growth, driven by increasing demand for real-time data across various sectors like agriculture, defense, and environmental monitoring. Companies are continuou