Fantastic news that the first investment we ever made from our inaugural spacetech fund - Spire Global - has announced that it will be going public on the New York Stock Exchange via a SPAC merger with Navsaight Holdings (NYSE: NSH).
We first invested in Spire just over four years ago. It has been incredible to have seen the progress Peter, Jeroen, Joel and the whole Spire team have made since then.
Their mission-driven vision for using nanosats to deliver high-impact insights from hard to reach parts of the planet was the inspiration that led to us investing.
In particular, we have always been big believers in the potential of Spire to dramatically improve how we forecast the weather. With weather disrupting 70% of businesses worldwide and costing more than $600 billion each year in the U.S. alone, and with climate change induced extreme weather events only growing more frequent, the need to more accurately forecast the weather has never been more urgent.
Spire has an amazingly bright future ahead of it as a public company and we look forward to continuing on with them on their exciting journey.
Spire was founded nearly a decade ago to help lead, inspire, and create the business of space-based data. Today, our proprietary data and solutions help customers solve some of earth’s greatest challenges, including Net Zero and Climate Change adaptation."