Satellite analytics company Spire Global is the first in the world to partner with the European Union’s Galileo constellation to gather advanced weather data, the company told CNBC exclusively on Tuesday.
The data is worth as much as $2.7 billion over the next 25 years to Spire, CEO Peter Platzer estimated. Platzer will announce the partnership officially on Tuesday afternoon at Morgan Stanley’s Space Summit in New York City.
Two of Spire’s recently launched satellites used signals from the Galileo satellite constellation to measure changes in the Earth’s atmosphere through a technique called “radio occultation.” This previously untapped data will give Spire’s analytics business a “new tier of data for advanced weather prediction,” the company said.
Spire has built and launched more than 60 “cubesat”-sized satellites since 2014. But Spire describes itself as an analytics company, as a variety of industries use Spire’s data, ranging from hedge funds to earth scientists to shipping businesses. The company has raised more than $140 million in total funding since its founding in 2012, with offices in San Francisco, Boulder, Glasgow, Luxembourg and Singapore.