Wyvern, a Canadian satellite imagery startup offering hyperspectral imagery services for agriculture, raised USD 7 million in an additional seed funding round led by Uncork Capital. New Investors including Y Combinator and MaC Venture Capital also joined the round.

The funds will be used for the launch and operation of Wyvern’s first three satellites, which its plans to deploy early next year. This round follows the CAD 4 million (~USD 3.15 million) funding round in February 2022 and brings its total funding to USD 15 million.

The company’s initial satellites will provide imagery at a 5-meter resolution and will not be equipped with its proprietary deployable optics. The company states that although these satellites are limited in features, it expects to gain a foothold in the commercial hyperspectral imagery market following the launch. The company also plans to launch a constellation of 36 satellites with its deployable optics in the future.