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I2BF backs Dauria Aerospace with $20m

I2BF Global Ventures has supplied Dauria Aerospace, a Russian satellite manufacturer and services provider, with $20m for its series-B funding round.

The funds will be used as working capital for Dauria’s existing contracts, as well as for the development of the company’s technology and towards new satellite platforms.

I2BF stated it invested in Dauria due to the increasing importance of the aerospace sector. I2BF believes the sector could have a positive effect on the agricultural industry, as well as disaster prevention and water control, due to Dauria’s development of observational technology for satellites.

I2BF is a venture capital firm with offices in New York, London, Moscow, Dubai and Kazakhstan. The firm predominantly invests in companies operating in the cleantech space.

Founded in 2011, Dauria is headquartered in Moscow with additional facilities in the DLR incubator in Munich and the NASA Ames Research Park in California.

The company manufactures micro- and nano-satellites, as well as developing machine-to-machine wireless communication and earth observation technology. Dauria’s technology is designed to be a low-cost offering of infrastructure for the monitoring of ground activity.

Dauria’s satellites work alongside the company’s CloudEO product, a cloud-based platform that imports geo-data and allows developers to utilise and analyse it.

The company is due to start production of its first satellite this year, a project that is supported by the Russian Federal Space Agency, Roscosmos.

Mikhail Kokorich is the president and founder of Dauria, while Sergey Ivanov is the CEO. Ilya Golubovich is a founding partner of I2BF.