Wyvern

Based in Canada, Wyvern is a satellite imagery startup, offering hyperspectral imaging solutions via satellites for agriculture, energy, defense, mining, forestry, and environmental applications. Wyvern’s satellite-based technology can provide detailed images that capture all spectra of light, including the electromagnetic spectrum. For agricultural applications, the space data collected provides insights on crop health, moisture mapping, and input optimization. The company claims that it can provide its images at a cost 100x less compared to traditional satellites telescopes and upto 10x less than using drones.

The company is able to capture images in 30+ colors with high resolution that have reduced noise due to its large reflective area. Hyperspectral imagery can also capture the chemical composition of the scene it observes. The company hoped to launch its first satellite imagery platform “DragonEye” for agricultural applications, which is designed with foldable mirrors that deploy in space to collect necessary data. The company was yet to accumulate customer partnerships for its solution. 

In February 2022 , Wyvern raised CAD 4 million (~USD 3.15 million) from Sustainable Development Technology Canada (SDTC). SDTC along with partners including Xarvio Digital Farming (a BASF subsidiary) and Old College were to test Wyvern’s hyperspectral imaging, a project tied to the funding. The funding was also expected to support the launch of “DragonEye'' by the end of 2022. This announcement follows the announcement in January that year of CAD 4.5 million (~USD 3.54 million) raised in a seed funding round and the admission into Y Combinator’s accelerator program. In November 2022, the company raised USD 7 million in an additional seed funding round led by Uncork Capital to support the launch of the company’s first three satellites.