NUVIEW: Revolutionizing Satellite LiDAR for a Sustainable Future
Aiming for the stars to save our planet and beyond
Early-stage venture investors like to believe that each investment we make can change the world. The truth is that many of our portfolio companies are iterative technology improvements deployed to robust industries. Few times in our venture capital careers will we ever encounter a startup as revolutionary as NUVIEW, the first commercial satellite LiDAR company that literally aims to forever change what can be known about the world.
Cortado Ventures is excited to announce that we are doubling down on our pre-seed investment in NUVIEW by participating in its current Series A round led by MaC Venture Capital. This blog post is a deep dive into Cortado’s process for investing in one of our most exciting portfolio companies and how it has gained international attention.
What is NUVIEW?
LiDAR (Light Detection and Ranging) works by emitting laser pulses and measuring the time it takes for the pulses to bounce back after hitting objects, allowing it to create detailed 3D maps of the surroundings. LiDAR can be found in everyday use including in smartphones and autonomous vehicles. NUVIEW’s constellation of 20 LiDAR satellites can deliver tree-canopy piercing high fidelity images with superior 3D change detection. With the ability to map any location on Earth twice a day and commercial hotspots four times a day, NUVIEW’s advanced LiDAR technology has already garnered $1.2 billion in customer letters of intent, demonstrating its significant market demand. This new global market for satellite LiDAR is estimated to reach $35 billion, presenting a significant growth opportunity for the Orlando-based startup.
NUVIEW follows an “always on” approach to data capture. Its approach ensures that there will be a continuous stream of data, even in the absence of specific customer requests. The market value of LiDAR data captured by NUVIEW is expected to have a longer shelf life compared to optical or radar data.
The main technical challenge lies in heat diffusion resulting from the powerful laser operating in the vacuum of space but regardless of that, NUVIEW has successfully passed technical reviews conducted by electrical and optical engineers from a contract from the U.S. Department of Defense (DoD) through National Security Innovation Capital (NSIC) and a scientist from The European Organization for Nuclear Research (CERN).
NUVIEW leverages the advantages of LiDAR over radar and optical Images. Optical images face challenges as they heavily depend on ambient light and are susceptible to adverse weather conditions, which can hinder its quality and effectiveness.
LiDAR enables precise and detailed 3D mapping by accurately measuring distances, elevations, and object shapes. Allowing LiDAR to excel in measuring distances and speeds with high precision, making it invaluable for applications like autonomous vehicles, where accuracy is paramount.
It generates point cloud data, enabling in-depth analysis and object recognition. It allows for mapping and point clouds produced by LiDAR to enable accurate identification and classification of objects. LiDAR performs well even in challenging environmental conditions such as darkness, rain, fog and dust.
Advantages of Satellite LiDAR over Airplane and Drone-based LiDAR
Traditional LiDAR mapping methods using airplanes or drones can be labor-intensive, time-consuming, and costly due to the need for extensive planning, logistics, and data processing. Satellite LiDAR is a cost-effective alternative. NUVIEW’s constellation of 20 satellites provides mapping data for any location on Earth at a fraction of the cost and time, eliminating the need for expensive aircraft operations, personnel, and infrastructure.
NUVIEW’s satellite LiDAR technology allows for global coverage with the ability to map any location on Earth twice a day and commercial hotspots four times a day. Satellite LiDAR enables the capture of data in areas that are difficult to access or pose risks to personnel, such as remote or hazardous regions. Airplane and drone-based LiDAR methods face limitations in reaching such areas, making satellite LiDAR a more viable solution. The frequency at which satellite LiDAR can capture data allows for data layering, enabling 3D change detection and increasingly detailed images over time. This capability offers valuable insights for various applications, including monitoring environmental changes, infrastructure development, and precision agriculture.
Why We Invested
Here at Cortado, we embrace technical diligence as a competitive advantage with our team having technical expertise in mechanical engineering, petroleum engineering, geospatial intelligence and more. Our sweet spot is funding technological extensions of existing legacy industries with a footprint in and around our geography, including life sciences, transportation, logistics, energy transition, defense and agriculture.
Cortado Ventures’ investment in NUVIEW was facilitated through a connection between Cortado’s Managing Partner Nathaniel Harding and MaC Venture Capital. Throughout conversations, MaC Venture Capital recognized the potential synergy between NUVIEW and Cortado Ventures. NUVIEW’s technology aligned with Cortado’s areas of expertise and presented potential customers in our region including common ground in key sectors, customers, and even shared Oklahoma backgrounds of ours and NUVIEW’s leadership. The technological capabilities of NUVIEW’s LiDAR technology immediately impressed our team given its applications in energy infrastructure monitoring, agriculture and beyond.
NUVIEW’s founder, Clint Graumann, boasts an impressive background in the satellite industry, having accumulated over 15 years of experience in radar and optical satellite technologies. Prior to founding NUVIEW, Clint successfully founded TerraMetric and served as the Managing Director of BlackBridge, a Planet Labs company. It was during his interactions with customers that Clint recognized a common thread — the demand for frequency and cost-effectiveness that only a satellite-based LiDAR solution could offer. This realization led him to embark on the journey of revolutionizing geospatial mapping by founding NUVIEW.
Clint’s vision for NUVIEW attracted top talent, including the recruitment of retired Air Force Research Lab Director Paul McManamon, Ph.D. who authored a book on LiDAR, to join as Chief Science Officer. With this strategic hire, Clint has assembled a world-class engineering team that brings a depth of expertise in LiDAR technology. Clint emphasizes that NUVIEW is focused on solving an engineering problem rather than a physics problem.
Forecast and Impact
Cortado Ventures’ investment in NUVIEW represents its commitment to supporting revolutionary advancements in the field of geospatial technology that will transform many of the legacy industries foundational to Oklahoma and the rest of the Midcontinent region. NUVIEW’s technology seeks to enable accurate and real-time monitoring of forests, wetlands, and other ecosystems. It aims to facilitate the assessment of vegetation density, biomass estimation, and ecosystem health, supporting conservation efforts and informing sustainable land management practices. This potential capability inspired actor and environmentalist Leonardo DiCaprio to invest in the startup.
NUVIEW aims for its technology to empower farmers to optimize crop management by assessing plant health, monitoring growth, and identifying areas of stress. This data-driven approach could leverage enhancements for resource efficiency, minimizing environmental impact, and increasing agricultural productivity, while also serving the defense sector by providing cutting-edge geospatial intelligence solutions that enhance situational awareness and decision-making capabilities.
By leveraging this extensive dataset, NUVIEW enables autonomous vehicles to accurately navigate and adapt to dynamic environments with precise mapping and localization capabilities. This foundation of geospatial information empowers autonomous systems to make informed decisions, enhance safety, and optimize transportation logistics, unlocking the full potential of self-driving technology in diverse industries.
The high-resolution 3D maps offer critical insights for urban planning, transportation management, and infrastructure development. Timely and accurate assessment of disaster-affected areas is crucial for effective response and recovery, enabling real-time, high-resolution data on terrain changes, flooding, and other impacts, assisting emergency services and relief organizations in delivering aid where it is most needed.
At Cortado Ventures, we invest in pre-seed and seed stage startups with a focus on energy & logistics, life sciences, and the future of work. If you are a Midcontinent startup or looking to invest in these startups, contact us to learn more.
