Ursa Announces $5.7 Million in New Funding

Ursa Space Systems, a provider of geospatial intelligence solutions, acquired $5.7 million in new venture funding led by RRE Ventures, with participation from S&P Global and Paladin Capital Group.

Ursa aggregates and analyzes data from its network of radar satellites to provide customers with alternative sources of market intelligence. Ursa’s flagship commercial product, Global Oil Storage Monitoring, is a weekly service measuring crude oil storage of 340 oil terminals worldwide with 3.6 billion barrels of capacity. According to the company, leading global operators in the energy and finance sectors rely on Ursa’s comprehensive, timely analytics to gain decision advantage, changing the way they conduct business. Following this product’s success, Ursa is extending its focus across the oil supply chain and expanding the company’s custom monitoring services across various sectors.

The company plans to use the funds to develop new products as well as expand current offerings to serve new customers and markets.