Descartes Labs

Descartes Labs, founded in 2014 by scientists from Los Alamos National Laboratory, began as a geospatial intelligence firm analyzing satellite imagery and remote sensing data.

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Analyzes satellite and geospatial data using AI to provide insights for industries like agriculture, mining, and national security.

Descartes Labs, founded in 2014 by scientists from Los Alamos National Laboratory, began as a geospatial intelligence firm analyzing satellite imagery and remote sensing data. The company initially focused on agriculture, mining, and consumer goods sectors, providing AI-driven insights for commodity forecasting and sustainability. In August 2022, private equity firm Antarctica Capital acquired a controlling stake, installing new leadership with Richard Davis as CEO and Graeme Shaw as COO.

By October 2024, Descartes Labs was acquired by EarthDaily Analytics (EDA), a move that integrated its geospatial AI capabilities with EDA's upcoming EarthDaily Constellation satellite network. The acquisition brought Descartes' commercial products like Marigold (insurance), Iris (energy), and Ascend (mining) under EDA's umbrella, along with its government-focused tools Retina and Wayfinder. While financials remain undisclosed post-acquisition, Descartes had raised $50M in venture funding prior to the Antarctica deal, including a $30M Series B in 2017 and $20M extension in 2019. The company now operates as part of EDA's broader earth observation platform, with its former Santa Fe headquarters likely consolidated into EDA's Vancouver and New York operations.

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Who buys this

  • Agriculture and commodity trading firms
  • Mining and natural resource companies
  • Insurance providers assessing climate risks
  • U.S. defense and intelligence agencies
  • Energy sector operators monitoring infrastructure

Strengths and what to watch

Strengths

  • Proprietary AI models trained on decades of satellite imagery data
  • Established contracts with U.S. government agencies through Descartes Labs Government subsidiary
  • Integration with EarthDaily's upcoming daily global satellite coverage (launching 2025)

Watch for

  • Integration challenges under new ownership by EarthDaily Analytics
  • Dependence on U.S. government contracts (60% of revenue pre-acquisition per industry estimates)
  • Competition from Orbital Insight and other geospatial analytics firms

Key Information

Founded
2014
Headquarters
Santa Fe

Frequently Asked Questions

What does Descartes Labs do?

Descartes Labs analyzes satellite and geospatial data using AI, providing insights for agriculture, mining, and national security. Founded in 2014 by Los Alamos scientists, it offers commercial products like Marigold (insurance) and government tools like Retina. Acquired by EarthDaily Analytics in 2024.

Who acquired Descartes Labs?

EarthDaily Analytics acquired Descartes Labs in October 2024, integrating its geospatial AI capabilities with EDA's upcoming EarthDaily Constellation satellite network. This followed a 2022 controlling stake purchase by Antarctica Capital, which installed new leadership including CEO Richard Davis.

What industries use Descartes Labs' technology?

Key customers include agriculture/commodity traders, mining companies, insurers assessing climate risks, energy operators, and U.S. defense agencies. Their AI analyzes decades of satellite imagery for crop forecasts, mineral exploration, infrastructure monitoring, and national security applications.

How was Descartes Labs funded before acquisition?

Descartes raised $50M in venture funding, including a $30M Series B in 2017 and $20M extension in 2019. Pre-acquisition, an estimated 60% of revenue came from U.S. government contracts through its Descartes Labs Government subsidiary.

What are Descartes Labs' main products?

Commercial products include Marigold (insurance analytics), Iris (energy sector), and Ascend (mining). Government tools include Retina and Wayfinder. All leverage proprietary AI models trained on satellite imagery, now integrated with EarthDaily's upcoming daily global coverage satellites.

How does EarthDaily Analytics' acquisition affect Descartes Labs?

The 2024 acquisition merges Descartes' AI capabilities with EarthDaily's Constellation satellite network (launching 2025). Operations are consolidating, with Descartes' Santa Fe headquarters likely merging into EDA's Vancouver/NY offices. Products now fall under EDA's earth observation platform.

Sources

  1. www.prnewswire.com — Antarctica Capital's 2022 acquisition and leadership changes
  2. www.prnewswire.com — 2024 acquisition by EarthDaily Analytics
  3. techcrunch.com — $30M Series B funding in 2017
  4. techcrunch.com — $20M additional funding in 2019