Its valuation now sits at $750 million pre-money, according to a person familiar with the company’s financials.īut before any of this capital was raised, Langan and Dominocielo spent two years bootstrapping the company, and this decision feels central to the rest of Umbra’s history and one of the keys to its success. Its investors include Nimble Partners, Star Castle Ventures, Champion Hill Ventures and Starbridge Venture Capital. Umbra has raised more than $100 million since its founding in 2015, with the most recent Series B funding closing in March. Image Credits: Umbra Bootstrapping into orbit Umbra founders Gabe Dominocielo and David Langan. When we fly over a high-demand area, we take 10 to 15 times more pictures than any startup or any legacy company, which means on a per unit basis, we’re able to make 10 times the amount of money.” “It has to be much, much better, and you have to be able to make significantly more money. “You can’t just have a better product that costs less money,” he said. To Dominocielo, the science was intriguing, but the business case was what made the proposition truly compelling. That’s high enough to detect a soda can from space. But unlike all other SAR systems that existed before, or exist today, it can capture images at resolutions up to 15 centimeters. Like other synthetic aperture radar (SAR) systems, it can see through clouds and at night. The antenna, which is designed to fold up for launch, is capable of using a full 1,200 MHz of bandwidth and generating a field of vision that extends up to 1,200 kilometers on either side. Langan invented a very large parabolic mesh radar antenna for a microsatellite form factor. The company was founded by Dominocielo, who previously started a company that coordinated class actions for plaintiffs lawsuits, and his longtime friend David Langan, an engineer who spent a decade working on advanced space programs at major aerospace companies. Umbra’s story can be summed up as a marriage of technological innovation and - you guessed it - sound unit economics. Umbra co-founder Gabe Dominocielo’s last name is roughly translated from the Latin as “lord of the skies.” It’s a fitting title for the head of a satellite imagery company - but in a recent interview with TechCrunch, he joked that his last name should be “unit economics.”
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