Perceptive Space Secures $2.8 Million For Space Weather Platform

Perceptive Space, a Toronto-based startup specializing in space weather forecasting, has raised $2.8 million in a pre-seed investment round. The funding, led by investors including Panache Ventures, Metaplanet, 7Percent Ventures, Mythos Ventures, and AIN Ventures, marks a significant milestone for the company as it seeks to introduce its advanced space weather platform to key players in the space and defense sectors.

Innovative Approach to Space Weather Prediction

Founded in stealth in 2022, Perceptive Space has been quietly developing groundbreaking technology aimed at improving the accuracy and lead times of space weather predictions.

The company's founder and CEO, Padmashri Suresh, emphasizes that their AI-driven models offer predictive capabilities that surpass those of existing governmental agencies like the National Oceanic and Atmospheric Administration (NOAA).

“Space weather predictions that are more accurate and have better lead times than what NOAA and other government agencies provide today,...We are using AI to extract more signal from the same data.” - Padmashri Suresh, Perceptive Space Founder and CEO

Perceptive Space’s models ingest data from a variety of sources, including NOAA, NASA, and private partners. By leveraging decades' worth of historical data, the company’s AI algorithms provide insights into the potential impact of space weather on satellites and other space assets.

“We are leveraging decades worth of space weather data and operations data to predict space weather and its impact,” - Padmashri Suresh, Perceptive Space Founder and CEO

Tailored Space Weather Forecasts

One of the key differentiators of Perceptive Space’s technology is its ability to provide customized forecasts for individual clients.

Space weather can have varying effects depending on a satellite's altitude or the specific mission parameters, and Perceptive Space aims to address these nuances.

“data products tell you how space weather will impact the health of your particular mission and different subsystems...We give that kind of tailored information and decision intelligence about space weather impact.” - Padmashri Suresh, Perceptive Space Founder and CEO

The company has developed lightweight AI models designed to run onboard satellite edge processors, enabling real-time integration of space weather predictions into satellite systems.

“You will be able to seamlessly integrate our models and predictions into the systems,” - Padmashri Suresh, Perceptive Space Founder and CEO

Strategic Investment and Expansion Plans

The recent funding round is set to fuel Perceptive Space’s growth as it prepares to launch its first product in 2025.

The company plans to use the investment to introduce its space weather platform to space and defense organizations in the United States and allied countries. Early commitments have already been secured from several satellite operators and launch providers, though the company has declined to disclose specific names.

In addition to product development, the funds will support the hiring of additional engineers and scientists, helping Perceptive Space attract early adopters and further refine its offerings.

“We will hire more engineers and scientists to help us get our products out and attract early adopters,” - Padmashri Suresh, Perceptive Space Founder and CEO

Vision and Inspiration

Suresh’s journey to founding Perceptive Space was shaped by her extensive experience in data science, spacecraft engineering, and technology policy. Her academic work at Utah State University, where she earned her PhD in 2016, laid the foundation for her interest in using machine learning to improve space weather forecasting.

“All of these experiences helped me build an understanding of all the different ways space weather impacts our sensors or operations or launch, which led me to explore the idea of using machine learning to better predict space weather for my PhD,” - Padmashri Suresh, Perceptive Space Founder and CEO

The idea for Perceptive Space gained urgency following a significant space weather event in 2022, when SpaceX lost 49 satellites during a geomagnetic storm. This incident highlighted the need for more reliable space weather forecasts across the industry.

“That was the catalyst I was looking for because everybody in industry realized that, yes, we need better space weather forecasts,...People are seeing the impact on their bottom lines from space weather.” - Padmashri Suresh, Perceptive Space Founder and CEO

Ultimately, Suresh envisions Perceptive Space playing a crucial role in humanity’s journey to becoming a multiplanetary civilization.

“I believe humanity is going to be a multiplanetary civilization...To ensure that our systems and all of us don’t become burnt toast getting there, we need better space weather information with better lead times.” - Padmashri Suresh, Perceptive Space Founder and CEO

With its innovative use of AI and a strong vision for the future, Perceptive Space is poised to become a key player in the emerging field of space weather forecasting.