Space data companies have long advocated for the private sector’s need for their products, yet government buyers have shown the most interest. With artificial intelligence becoming a key focus for business, a Spanish startup is positioning itself as the primary source of ground truth for enterprises.
Xoople, pronounced “zoople,” is creating a satellite constellation to gather precise data for deep learning models. Founded in 2019, the company has dedicated seven years to building its technology stack with data from government spacecraft and integrating with cloud services.
CEO and cofounder Fabrizio Pirondini announced a $130 million Series B funding round led by Nazca Capital, with other investors including MCH Private Equity, CDTI backed by the Spanish government, Buenavista Equity Partners, and Endeavor Catalyst.
On Monday, Xoople also revealed a partnership with U.S. space and defense contractor L3Harris Technologies to develop sensors for Xoople’s satellites, which Pirondini claims will deliver data two magnitudes better than current systems.
While L3Harris is known for its advanced commercial imaging systems, Pirondini didn’t disclose details about the satellites, such as the number Xoople intends to build, mentioning only that the sensors will collect optical data. The systems are costly, and Xoople continues to seek funds for full development.
Pirondi did not share the company’s valuation post-fundraising, only indicating they are in “unicorn territory.” Xoople has raised a total of $225 million.
Data quality remains a central focus for Xoople, though it faces competition from established companies like Vantor, Planet, BlackSky, and Europe’s Airbus, which already operate satellites and develop AI-focused datasets.
Xoople’s unique angle is its emphasis on enterprise platforms. “Our business model is all about embedding our data and our solutions directly to the ecosystem of those so that they can provide those services directly to their customers,” Pirondelli explained.
Pirondelli discussed various applications such as government agencies monitoring transportation networks and natural disaster damage, agribusiness tracking crop health, and large firms overseeing infrastructure or supply chains.
Aravind Ravichandran, CEO of TerraWatch Space, noted that Xoople’s strategy of setting up distribution channels before having its own data is intriguing, as it currently uses public data like the European Space Agency’s Sentinel-2.
“They laid the distribution pipes before having their own data supply — embedding into Microsoft and Esri, the two platforms where enterprise, government, and most GIS buyers already live, but neither has proprietary EO data,” Ravichandran commented. “Google’s head start on geospatial AI models is the benchmark they’ll be measured against.” It’s uncertain how Xoople will balance providing raw data versus developing its analytical tools, but Pirondi aims to create “Earth’s System of Record,” a project anticipated to develop alongside partners a comprehensive AI world model.