Meet the Duke startup trying to put a satelitte in space
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Backed by more than $7 million in seed funding, a Duke University spinout is hoping to launch a new generation of satellite cameras into space in the next few years.
Why it matters: Extellis is one of the latest startups to emerge from research at Duke University, turning promising advancements in labs into real-world companies growing in the Triangle.
Zoom in: Extellis was co-founded by former Duke researcher Michael Boyarsky, who spent more than 10 years working on the idea, and Duke engineering professor David Smith.
- The company is building a satellite imaging technology that is capable of capturing up to 10,000 images per day. Most importantly, it employs synthetic-aperture radar [SAR] technology that uses microwave wavelengths to pierce clouds and capture images at night.
- That gives it a significant edge over traditional optical satellite cameras, which require sunlight and can have their imaging capabilities obscured more easily.
- Most SAR satellite cameras today struggle with capacity and reliability, and Extellis hopes the upgrades it has made with Duke research will solve some of those problems.
What they're saying: "For a planet covered 70% in cloud cover and 50% in nighttime, [optical cameras] are not able to be persistent or reliable," Boyarsky, the startup's CEO, told Axios.
- "You know, parts of the world, like Singapore, face like 90% to 95% cloud cover," he added. "You might not get a new opportunity to take imagery with those systems for a month."
Driving the news: The company raised $6.8 million in funding from investors last year, including local groups like Oval Park Capital and Duke Capital Partners.
- It has also landed several government grants, including $2.3 million from DARPA.
- The latest feather in Extellis' cap is backing from the oil giant Shell's venture arm. The funding amount wasn't disclosed, but the investment gives a hint at what type of customers could be interested in using Extellis' imaging technology.
State of play: Boyarsky said most people think of satellite imaging as a defense-and-government-based product.
- But lots of companies are looking for increased data and insights on what's happening across the globe, whether it is quicker insights on damage from a natural disaster or how many ships are passing through the Strait of Hormuz.
- He hopes that Extellis' technology can make satellite imaging less expensive by delivering a higher quantity of usable photos.
- "We can take really high volume of imagery, and for me, that opens up a ton of opportunities because the economics change so dramatically," Boyarsky said. "I think we have the opportunity to really break satellite imaging out of its defense-only niche and towards much broader adoption because the pricing and economics don't make sense today."
What's next: Extellis hopes to use its initial funding to prove out the effectiveness of its imaging technology — first on a high-altitude plane and then in orbit around the Earth.
- Boyarsky said that it hopes to launch its satellite into space within two years, probably using a SpaceX rocket.