Key takeaways
- Top pick: ICEYE, best for: Governments and insurers needing imagery through cloud and at night. ICEYE launched six new SAR satellites on SpaceX's Transporter-16 mission in March 2026.
- Also near the top: Muon Space, best for: Fire agencies and climate programmes that need frequent monitoring; and Open Cosmos, best for: Governments that want sovereign satellite capacity without building a constellation.
- How it was ranked: 10 startups compared. Each verdict is below.
Best Space Startups in Earth Observation: Top 10 Ranked. ICEYE ranks first, with a Lister Score of 97.1.
ICEYE leads Earth observation startups globally, with the largest radar constellation and a €450 million funding round, and
Muon Space is the best-funded newcomer, building the FireSat wildfire constellation.
Umbra is the pick for very high-resolution radar,
Pixxel for hyperspectral data and
Hydrosat for thermal imagery of crops and water.
Best Space Startups in Earth Observation in 2026, compared| RANK | ENTRY | BEST FOR | SCORE | FROM |
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| 1 |  ICEYEICEYE launched six new SAR satellites on SpaceX's Transporter-16 mission in March 2026. | Governments and insurers needing imagery through cloud and at night | 97.1 | Custom |
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| 2 |  Muon SpaceMuon Space announced the launch of the first three operational FireSat satellites for Earth Fire Alliance in July 2026. | Fire agencies and climate programmes that need frequent monitoring | 95.8 | Custom |
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| 3 |  Open CosmosOpen Cosmos says its four European manufacturing facilities can together produce one satellite per day. | Governments that want sovereign satellite capacity without building a constellation | 94.6 | Custom |
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| 4 |  UmbraNOAA selected Umbra as a commercial SAR data provider under a Space-Based Environmental Monitoring contract that took effect in September 2026. | Analysts who need the sharpest commercial radar imagery | 93.3 | Custom |
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| 5 |  PixxelPixxel launched its first three Firefly satellites on SpaceX's Transporter-12 mission in January 2025. | Agriculture, mining and environmental teams needing spectral data | 92.0 | Custom |
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| 6 |  EarthDaily AnalyticsEarthDaily said EDC-08, launched on SpaceX's Transporter-17 mission in July 2026, brought the constellation to the satellite count needed for commercial operations. | Agriculture and insurance teams tracking change across large areas | 90.7 | Custom |
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| 7 |  HydrosatHydrosat says its two thermal satellites in orbit can collect more than 10 million square kilometres of imagery a day. | Agribusiness and water managers tracking crop stress | 89.4 | Custom |
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| 8 |  SatVuSatVu's HotSat-2 satellite launched on SpaceX's Transporter-16 mission in March 2026. | Defence and energy teams monitoring activity through heat signatures | 88.1 | Custom |
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| 9 |  constellrconstellr launched its first satellite, SkyBee-1, on SpaceX's Transporter-12 mission in January 2025. | Farmers, utilities and defence analysts who need precise temperature data | 86.8 | Custom |
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| 10 |  WyvernWyvern received $2.9 million in repayable Canadian government funding in March 2026 to advance hyperspectral ship identification and maritime monitoring. | Maritime and resource teams testing hyperspectral data | 85.5 | Custom |
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How to choose
Start from what you need it for. Where each entry fits best:
- ICEYE (#1): Governments and insurers needing imagery through cloud and at night
- Muon Space (#2): Fire agencies and climate programmes that need frequent monitoring
- Open Cosmos (#3): Governments that want sovereign satellite capacity without building a constellation
- Umbra (#4): Analysts who need the sharpest commercial radar imagery
- Pixxel (#5): Agriculture, mining and environmental teams needing spectral data
- EarthDaily Analytics (#6): Agriculture and insurance teams tracking change across large areas
- Hydrosat (#7): Agribusiness and water managers tracking crop stress
- SatVu (#8): Defence and energy teams monitoring activity through heat signatures
- constellr (#9): Farmers, utilities and defence analysts who need precise temperature data
- Wyvern (#10): Maritime and resource teams testing hyperspectral data
Each entry's full verdict is below.
The ranking, in detail
01
Radar imaging satellites and data
ICEYE, founded in 2014 and based in Espoo, Finland, builds and operates synthetic aperture radar satellites that image the Earth through cloud and at night, and sells radar data and satellites to governments and businesses. It raised €450 million in primary Series F funding led by General Atlantic in June 2026, at a valuation above €10 billion.
PROS- Profitable, by its own figures
- Sells complete sovereign satellite systems
CONS- Demand weighted to government and defence
- Radar imagery needs specialist analysis
- Best for
- Governments and insurers needing imagery through cloud and at night
- Where it falls short
- Radar imagery requires specialist analysis.
- Pick something else if
- you lack specialist analysis capabilities.
97.1
02
FireSat wildfire-monitoring satellites
Muon Space, based in Mountain View, California, designs, builds and operates Earth observation satellites, including FireSat, the wildfire-monitoring constellation developed with Earth Fire Alliance and Google.org. It closed a $250 million Series C led by Eclipse in August 2026, taking total equity funding above $386 million.
PROS- Operational satellites in orbit
- Backed by Google and Salesforce Ventures
CONS- Full FireSat constellation still being built
- Younger than most rivals
- Best for
- Fire agencies and climate programmes that need frequent monitoring
- Where it falls short
- The full FireSat constellation is still being built.
- Pick something else if
- you need a complete constellation today.
95.8
03
Shared OpenConstellation satellite network
Open Cosmos, based in the UK, designs, builds and operates satellites and runs OpenConstellation, a shared Earth observation constellation that governments and organisations can join. It raised €300 million in a Series C in September 2026, at a valuation above $1 billion.
PROS- Builds and operates its own satellites
- Strong European government demand
CONS- Broad offer beyond imagery
- Price not published
- Best for
- Governments that want sovereign satellite capacity without building a constellation
- Where it falls short
- Buyers cannot see the cost because prices are not published.
- Pick something else if
- you need transparent pricing upfront.
94.6
04
Very high-resolution radar satellites
Umbra, founded in 2015 and based in Santa Barbara, California, builds and operates synthetic aperture radar satellites and in August 2023 released a 16 cm resolution radar image, which it called the highest-resolution commercial satellite image ever released. It was one of three companies awarded National Reconnaissance Office commercial SAR contracts in August 2026.
PROS- Very high radar resolution
- Open data programme for researchers
CONS- Smaller fleet than ICEYE
- Limited public financial detail
- Best for
- Analysts who need the sharpest commercial radar imagery
- Where it falls short
- It offers limited public financial detail for potential investors or partners.
- Pick something else if
- you need transparent financial reporting.
93.3
05
Hyperspectral satellite imaging
Pixxel, founded in 2019 and based in Bengaluru, India, operates Firefly, a constellation of hyperspectral satellites that image across more than 150 spectral bands at 5 m resolution. It raised $100 million in a Series C led by Temasek and Seraphim in September 2026, taking total funding to $195 million.
PROS- Hyperspectral data few others sell
- Detects crop, mineral and pollution signatures
CONS- Small fleet
- Early commercial stage
- Best for
- Agriculture, mining and environmental teams needing spectral data
- Where it falls short
- The small fleet limits coverage availability.
- Pick something else if
- you need broader satellite coverage.
92.0
06
Daily multispectral imaging constellation
EarthDaily Analytics, based in Vancouver, Canada, and backed by Antarctica Capital, is building the EarthDaily Constellation, a ten-satellite system designed to image the whole world every day across 22 spectral bands. Six of its satellites launched on a single Falcon 9 rideshare in May 2026.
PROS- Designed for daily global coverage
- 22 spectral bands
CONS- Commercial operations only just starting
- Medium resolution rather than very high resolution
- Best for
- Agriculture and insurance teams tracking change across large areas
- Where it falls short
- It offers medium resolution rather than very high resolution imagery.
- Pick something else if
- you need very high resolution imagery.
90.7
07
Thermal infrared imagery for water and crops
Hydrosat, based in Washington, DC, and Luxembourg, operates thermal infrared satellites and an AI-driven analytics platform for water, agriculture and risk monitoring. It closed a $60 million Series B in January 2026 and added $10 million from Suma Capital as a Series B extension in September 2026.
PROS- Thermal data paired with analytics
- Clear agriculture and water use case
CONS- Two satellites so far
- Price not published
- Best for
- Agribusiness and water managers tracking crop stress
- Where it falls short
- It has only two satellites and does not publish its price.
- Pick something else if
- you need a larger constellation or transparent pricing.
89.4
08
High-resolution thermal imaging from space
SatVu, formerly Satellite Vu, is a London company that builds and operates satellites measuring heat from space at high resolution for defence, energy and urban monitoring. It closed a £30 million round in February 2026 with the NATO Innovation Fund and British Business Bank, taking total funding to £60 million.
PROS- Backed by the NATO Innovation Fund
- Further satellites already under contract
CONS- Small fleet so far
- Early commercial stage
- Best for
- Defence and energy teams monitoring activity through heat signatures
- Where it falls short
- Its small fleet limits coverage capacity.
- Pick something else if
- you need extensive immediate coverage.
88.1
09
Land surface temperature data
constellr, based in Freiburg, Germany, operates the HiVE constellation, which measures land surface temperature for agriculture, infrastructure and defence customers. It raised a €37 million Series A led by Alpine Space Ventures and Lakestar in February 2026, taking total funding to €75 million.
PROS- Precise temperature measurement
- European defence and agriculture demand
CONS- Constellation still being built
- Price not published
- Best for
- Farmers, utilities and defence analysts who need precise temperature data
- Where it falls short
- The company is still being built and price is not published.
- Pick something else if
- you need a fully operational provider with clear pricing.
86.8
10
Hyperspectral imaging satellites
Wyvern, based in Edmonton, Canada, operates the Dragonette constellation of hyperspectral imaging satellites and sells the data to defence, agriculture, forestry, mining, energy and environmental customers.
PROS- Hyperspectral satellites already in orbit
- Strong maritime and defence focus
CONS- Small funding compared with peers
- Small satellite fleet
- Best for
- Maritime and resource teams testing hyperspectral data
- Where it falls short
- It has a small satellite fleet.
- Pick something else if
- you need extensive orbital coverage.
85.5
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Frequently asked questions
What are the best Space Startups in Earth Observation?
ICEYE ranks first on Lister. ICEYE, founded in 2014 and based in Espoo, Finland, builds and operates synthetic aperture radar satellites that image the Earth through cloud and at night, and sells radar data and satellites to governments and businesses. It raised €450 million in primary Series F funding led by General Atlantic in June 2026, at a valuation above €10 billion.
What are the top 10 Space Startups in Earth Observation?
1. ICEYE; 2. Muon Space; 3. Open Cosmos; 4. Umbra; 5. Pixxel; 6. EarthDaily Analytics; 7. Hydrosat; 8. SatVu; 9. constellr; 10. Wyvern.
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