A satellite data start-up which reduces file sizes to transmit more information has received backing from an early SpaceX investor. Sky News reports that The Compression Company will announce a $3.4m fundraising led by Long Journey, a supporter of major tech companies like SpaceX, Uber, and Anduril.
Using AI-driven compression on satellites, The Compression Company can shrink file sizes by over 95%, addressing a key challenge in delivering data back to Earth. Data generated in space is increasing rapidly and is utilized in various sectors such as climate monitoring, disaster response, defense, agriculture, and logistics.
The company’s technology allows for bandwidth preservation for high-value data, crucial as over 5,000 Earth observation satellites are set to launch in the next decade. Current satellites have limited bandwidth, with only a brief window to transmit data to ground stations. Research indicates that just 2% of satellite data is sent back to Earth, with the remainder delayed, degraded, or discarded.
«The Compression Company is changing the game in how data is managed in space,» said Michael Stanway, co-founder and CEO. The company’s approach involves compressing data in orbit to extract more valuable information from existing satellites, rather than launching more satellites. Stanway and co-founder Joe Griffith, the company’s CTO, met while studying neurotechnology at Imperial College London.
Initially supported by Entrepreneurs First, The Compression Company is now backed by Long Journey. «Space is evolving into a data-driven industry, but data management has not kept up with its generation,» noted Lee Jacobs, managing partner of Long Journey. He praised The Compression Company’s software-first approach for addressing a fundamental challenge in the satellite ecosystem.
In conclusion, The Compression Company’s innovative technology aims to optimize data transmission from space, maximizing the value of existing satellite data. With the support of investors like Long Journey, the company is poised to make a significant impact in the space data industry.
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