Korean startup CONTEC looking to transform space tech globally

Korean startup CONTEC looking to transform space tech globally

Share Share on Pinterest Share on Facebook Share on Twitter Contec , a Korean startup, is working to revolutionize the space sector by providing holistic solutions for downstream data transmitted through satellites. The company applies AI-based detection and change detection methods in satellite imagery analysis and application. Contec is tasked as an end-to-end service provider through turn-key solutions for space operators.

As a spin-off from the Korea Aerospace Research Institute (KARI) Contec offers Satellite Image Processing and Application Services , Space Ground Station Services, and whole-ground integration solutions. Launched in 2015 in Korea and Luxemburg in 2019, the two offices have 58 engineers. Contec CEO Sunghee Lee formerly worked at KARI for 16 years.

The startup has raised $11 million in a Serie B from Atinum Investment which was a major investor alongside 4 other major VC investors across Korea such as the Korean Development Bank , Korean Investment Partners , Industrial Banks of Korea , and Intellian Tech. The funds go into the construction of more ground stations and the development of new technologies such as space-to-ground FSO communication.

Contec provides Ground Station (GS) service through its own ground stations and also services major EO satellites. The first station was set up in Jeju (Korea), with several others under construction this year. The company looks to scale its offering with 12 ground stations spread out across Alaska, Chile, South-East Asia, Europe, Australia, and Africa by 2024.
Share Share on Pinterest Share on Facebook Share on Twitter Ridelink , a Uganda e-logistics startup has raised $150,000 in pre-seed funding in a round jointly led by Ortus Africa Capital (an investment advisory firm), the Omidyar Network (impact investment firm), and African Leadership Academy’s Young Entrepreneurs Fund ( Anzisha ).

The company looks to drove down the cost of transport for SMEs by connecting businesses to truck drivers through technology that facilitates the smooth running of business operations increasing revenue, motility efficiency, and performance. This platform largely services the urban, peri-urban, and rural in Kenya, Tanzania, and Uganda.

In a 2019 feature by Anzisha, Ridelink Head of Operations Daniel Mukisa disclosed how the company pivoted its business model from a B2C to a B2B model which helped the company grow its revenue significantly. The company had realized a 300% revenue growth from 2017’s $37,000 to 2018’s $140,000. The recent investment raises Ridelink’s cumulative funding to $250,000 after receiving private investment in 2020 from Seedstars.

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