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David Maxwell / Flickr cc

Orbital Insight, a Silicon Valley provider of geospatial analytics solutions, has raised $50 million in Series C funding at what one source says is a pre-money valuation north of $300 million. Sequoia Capital led the round, and was joined by Envision Ventures, Balyasny Asset Management, Geodesic Capital, ITOCHU Corporation, Intellectus Partners and return backers GV, Lux Capital and CME Ventures.

Why it's a big deal: As more and more drones and satellites get sent up, more and more data is being beamed down. A company like Orbital Insight is charged with making sense of it all ― kind of a Google for all of that stuff flowing into Google Earth, but with application to a whole host of industries.

Bottom line: "With images of retailer parking lots, companies like Orbital Insight have proven their ability to extrapolate accurate revenue predictions for businesses by counting cars as a proxy in advance of official earnings reports. But as data and technology commoditize, startups have been racing to service new markets and simplify their offerings to avoid becoming clunky consultancies." ― John Mannes

Go deeper

Updated 1 hour ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 1 hour ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.