Funding round
Hydrosat Seed
Hydrosat, which works in satellite imaging and data services in Washington, raised $5.0M in a Seed round announced on 17 Jun 2021, led by Cultivation Capital. 8 firms took part. It is Hydrosat's first venture round on record.
$5.0M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Hydrosat did not disclose a valuation in this round. It is Hydrosat's first venture round on record, 4 years after it was founded in 2017. It is 5.6% of the $90M Hydrosat has raised in the venture rounds on record. Hydrosat raised again 5 months later: a Seed round of $10M in Nov 2021.
Hydrosat's funding rounds
Hydrosat has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Cultivation Capital led the round with 7 other firms.
Lead investor
- backs 26 venture-backed companies new investor
Also in the round
- backs 15 venture-backed companies new investor
- the Yield Lab new investor
- backs 15 venture-backed companies new investor
- backs 388 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- University of Michigan new investor
Joined the board: Lori Garver, Andy Dearing (Cultivation Capital) and Ryan Johnson.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
2,255 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.0M, and this round was 1.7 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 24 Jun 2021 | $50M | not disclosed | not named |
| Tech Companies | 21 Jun 2021 | $8.0M | not disclosed | Senator Investment Group |
| Tech Companies | 9 Jun 2021 | $8.0M | not disclosed | Trilogy Equity Partners |
| Tech Companies | 22 Jun 2021 | $7.5M | not disclosed | Homebrew and Golden Ventures |
| Tech Companies | 23 Jun 2021 | $6.6M | not disclosed | not named |
| Tech Companies | 29 Jun 2021 | $6.5M | not disclosed | Bridges Israel |
| Tech Companies | 29 Jun 2021 | $6.5M | not disclosed | MetaProp and Allegion Ventures |
| Tech Companies | 8 Jun 2021 | $6.0M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Hydrosat raise in its Seed round?
Hydrosat raised $5.0M in its Seed round, announced in Jun 2021.
Who led Hydrosat's Seed round?
Cultivation Capital led it, with Freeflow, the Yield Lab, Expon Capital, Techstars and Industrious Ventures and 2 more.
What was Hydrosat's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
2,255 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.0M, and this round was 1.7 times the median.
Did Hydrosat raise again after this round?
Yes: a Seed round in Nov 2021 of $10M.