With $7M in new funding, AI startup Astraea is poised for growth in 2021

A Charlottesville-based AI startup is positioned for growth in 2021 thanks to two recent raises totaling more than $7 million.

Astraea, Inc., co-founded in 2016 by Daniel Bailey, Matthew Eldridge, Simeon Fitch, Brendan Richardson and Dr. Kim Scott, is an AI platform whose technology is used to analyze geospatial data. 

Richardson said the team’s collective background in data science and software development led them to create a company focused on solving complex problems in data by leveraging the geospatial dataset.

“At the moment, there are more than 2,000 Earth-observing satellites in orbit,” he said. “We built [Astraea] to leverage that data set and put data science tools in the hands of non-expert data scientists to extract and analyze it.”

Earlier this week, the startup submitted filings with the SEC for two rounds of funding that totaled $7.3 million.

Richardson said the first round, a $3.7 million debt and equity raise that opened in April 2019, was a bridge round backed by…

Read the full story from the Washington Business Journal.

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