Ursa Space Systems Inc., an Ithaca, NY-based company providing access to multi-modal satellite data and on-demand analytic solutions, received a $10M venture loan from Horizon Technology Corporation.

Ursa Space partners with Japan's NEC to deliver SAR data insights.

TOKYO and ITHACA, N.Y., June 20, 2024 /PRNewswire/ -- NEC Corporation (NEC) (TSE: 6701) and Ursa Space Systems Inc. (Ursa Space) have agreed to collaborate on satellite image data analysis services. By combining services and technologies, the two companies will provide solutions for various applications for enterprises.In recent years, the use of satellite image data has been rapidly expanding for various applications, including disaster prevention, infrastructure management, resource exploration, agriculture, and environmental monitoring.Against this backdrop, NEC provides a monitoring service that analyzes image data from Synthetic Aperture Radar (SAR) satellites to support infrastructure maintenance management and disaster countermeasures.Ursa Space has also established a "virtual constellation" consisting of several hundred SAR and optical satellites in collaboration with satellite operating companies, and provides a global one-stop analysis service for image data acquired by multiple satellites.Through this collaboration, the two companies will promote the following initiatives:(1) Newly developed solution that combines NEC's monitoring service using SAR images and Ursa Space's image analysis service. The solution is initially being offered to companies in Japan.(2) NEC's SAR image-based monitoring service has been added as a platform function for the image analysis service provided by Ursa Space. The service will be provided to companies globally.Going forward, the two companies will promote initiatives through this collaboration to contribute to the resolution of challenging social issues.About NEC CorporationNEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at http://www.nec.com.About Ursa Space Systems Inc.Ursa Space is a global satellite insight infrastructure company that provides business and government decision-makers access to on-demand analytic solutions