Funding round
Hydrosat Seed
Hydrosat, which works in satellite imaging and data services in Washington, raised $10M in a Seed round announced on 16 Nov 2021, led by OTB Ventures. 5 firms took part. It is Hydrosat's second venture round on record; the one before was a Seed in Jun 2021.
$10M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Hydrosat did not disclose a valuation in this round. It came 5 months after Hydrosat's Seed. It is 11% of the $90M Hydrosat has raised in the venture rounds on record. Hydrosat raised again 17 months later: a Series A round of $15M in Apr 2023.
Hydrosat's funding rounds
Hydrosat has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
OTB Ventures led the round with 4 other firms.
Lead investor
- OTB Ventures backs 27 venture-backed companies new investor
Also in the round
- backs 15 venture-backed companies new investor
- Cultivation Capital new investor
- backs 9 venture-backed companies new investor
- backs 15 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
2,488 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.1M, and this round was 3.2 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 12 Nov 2021 | $15M | not disclosed | Canvas Prime |
| Tech Companies | 10 Nov 2021 | $13M | not disclosed | Amit Singhal |
| Tech Companies | 23 Nov 2021 | $11M | not disclosed | Zeev Ventures |
| Tech Companies | 16 Nov 2021 | $10M | not disclosed | Multicoin Capital and Sky9 Capital |
| Tech Companies | 18 Nov 2021 | $10M | not disclosed | High Alpha |
| Tech Companies | 3 Nov 2021 | $9.0M | not disclosed | Aleph |
| Tech Companies | 18 Nov 2021 | $9.0M | not disclosed | not named |
| Tech Companies | 24 Nov 2021 | $8.0M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Hydrosat raise in its Seed round?
Hydrosat raised $10M in its Seed round, announced in Nov 2021.
Who led Hydrosat's Seed round?
OTB Ventures led it, with Freeflow, Cultivation Capital, Santa Barbara Venture Partners and Expon Capital.
What was Hydrosat's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
2,488 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $3.1M, and this round was 3.2 times the median.
Did Hydrosat raise again after this round?
Yes: a Series A round in Apr 2023 of $15M.