Accelerate Fund III invests in Wyvern to fuel growth in commercial space imaging
Edmonton, AB, Oct 17, 2024 – Accelerate Fund III today announced its investment in Wyvern, an Edmonton-based space data company specializing in high-resolution commercial hyperspectral imagery. The $6 million USD seed extension round was led by Squadra Ventures, with participation from Accelerate Fund III, Uncork Capital, Y Combinator, the University of Alberta Innovation Fund, and Brent Perrot.
This investment will enable Wyvern to expand its market presence in the U.S and globally. Wyvern’s hyperspectral imagery is the highest resolution available and helps businesses and governments unlock valuable insights for sustainable operations and resource management. With the growing demand for advanced Earth imaging solutions across forestry, agriculture, energy, defence, and environmental monitoring sectors, Wyvern is well-positioned to be a global leader in Earth observation.
“This investment reinforces our commitment to providing the best quality, highest resolution commercial hyperspectral imagery from space,” explained Christopher Robson, Co-Founder and CEO of Wyvern. “It positions us to scale in the U.S., one of the largest markets for remote sensing data, while continuing to drive innovation here in Alberta.”
Wyvern’s first satellites in its Dragonette constellation are currently in orbit and providing data scientists and analysts with reliable access to hyperspectral imagery. Its next generation of satellites is currently in development and will leverage cutting-edge technology to capture even better data across a larger spectral range and at a higher resolution.
“As an Alberta-based fund, we’re thrilled to invest in Edmonton’s Wyvern, a unique space tech company with market-leading satellite and data capture capabilities,” said Yasmine Al-Hussein, Investment Associate, Accelerate Fund II & III. “Founded out of the University of Alberta, this cutting-edge company has impressed us with its commercialization accomplishments to date. We are excited to continue supporting Wyvern’s growth and expansion.”
About Wyvern
Edmonton-based space data company Wyvern was created to provide hyperspectral data that will enable a sustainable future for humanity. Wyvern’s cutting-edge unfolding camera technology will make high-quality, high-resolution hyperspectral imagery from satellites affordable like never before, unlocking applications in new markets for the very first time. The company is proud to be carving a path for the Canadian space industry by providing the highest-resolution commercial hyperspectral imagery of the Earth available now.
About Accelerate Fund III
Accelerate Fund III is an early-stage angel co-investment fund in Alberta. We co-invest alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund III invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund III is managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead limited partner with support from other investors, including Opportunity Calgary Investment Fund.
Media Inquiries:
Accelerate Fund III
Claudia Moore
Material Insight
403.703.0029
Claudia @ materialinsight.com