With New Funding, Orbital Insight Expands Satellite Image Analysis for Commodities

Vendor plans to grow usage of satellite imagery to new areas of sales forecasts and commodities supply data.

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Using ariel photography of oil storage facilities and measuring shadows, Orbital Insight can estimate the supply of oil.

The new investment from Sequoia, Bloomberg Beta and Lux Capital—all of which participated in Orbital Insight’s original seed funding around a year ago—and Google Ventures totals $8.7 million, and will enable the vendor to build and market new content services, while also allowing it to obtain valuable customer feedback about its services.

Currently, the vendor tracks the number of cars in the parking lots of 60 retail stores to see where consumers are shopping, then provides updated estimates of

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