Xoople, a Spanish startup founded in 2019, is positioning itself as the leading provider of ground truth data for enterprises, focusing on artificial intelligence applications. While private space data companies have traditionally relied on government contracts, Xoople seeks to cater to the business sector through its innovative satellite constellation designed to gather precise data for deep learning models.
Recently, Xoople secured $130 million in Series B funding, led by Nazca Capital, with participation from MCH Private Equity, the Spanish government’s CDTI, Buenavista Equity Partners, and Endeavor Catalyst. CEO and cofounder Fabrizio Pirondini announced a new partnership with L3Harris Technologies, a U.S. defence contractor, to develop advanced sensors for their satellites, which promise to deliver data significantly superior to existing systems.
While specific details about their satellites remain undisclosed, Xoople plans to focus on collecting optical data, aiming to raise further capital to support this ambitious project. With a total funding of $225 million, the company is potentially entering “unicorn territory,” although Pirondini refrained from revealing its current valuation.
Xoople differentiates itself through its commitment to data quality and its unique business model, which emphasises embedding its data services within existing enterprise ecosystems. This approach allows businesses to offer services directly to their customers. Potential applications for Xoople’s services include assisting government agencies in monitoring infrastructure and natural disaster damage, helping agribusinesses track crop health, and enabling large corporations to oversee supply chains.
Interestingly, Xoople is developing its distribution strategies before fully establishing its own data supply. Currently, it utilises publicly available datasets, such as those from the European Space Agency’s Sentinel-2 satellites. This proactive method of inserting itself into platforms like Microsoft and Esri—central hubs for government and enterprise GIS users—has raised eyebrows within the industry, as noted by Aravind Ravichandran, CEO of TerraWatch Space. He suggests that while this strategy is intriguing, Google’s advancements in geospatial AI will set the benchmark for Xoople.
Ultimately, Xoople aspires to create an “Earth’s System of Record,” which would involve building a comprehensive AI world model in collaboration with strategic partners. As it forges ahead in a market with established players like Vantor, Planet, BlackSky, and Airbus, the startup’s emphasis on high-quality data and innovative distribution models will be crucial in carving out its niche in the competitive landscape of space data services.
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