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Planet Labs Inc. reported a record second quarter revenue of
Planet has been awarded a contract by NASA under the Commercial SmallSat Data Acquisition Program, allowing access to Planet's data for U.S. Federal Civilian scientific researchers until September 2022. This marks Planet's third year supporting NASA’s CSDA program, which aims to integrate commercial satellite data for climate research. Nearly 300,000 researchers can utilize PlanetScope and RapidEye satellite data for studies on climate change and biodiversity. Planet, founded by former NASA scientists, operates the largest fleet of imaging satellites, capturing over 3 million images daily.
Planet has announced a collaboration with Google Earth to integrate high-resolution data from Norway's NICFI Satellite Data program into Google Earth Engine. This integration will enhance the ability to analyze tropical forest losses and improve global efforts against deforestation. Early-access users are testing real-world applications, with researchers from Wageningen University and the University of Copenhagen planning to use this data for advanced ecological studies. This partnership underscores Planet's commitment to ecological stewardship while enhancing the capabilities of the NICFI community.
Planet has entered a new three-year agreement with Corteva Agriscience to enhance agricultural solutions utilizing satellite data. Over the past four years, both companies have collaborated to improve crop monitoring and productivity. The partnership has expanded Planet's customer base to over 600, with successful technology co-development. Corteva leverages Planet's imagery across multiple regions, driving significant growth in usage. The collaboration focuses on innovation in data collection and application, positioning both companies as leaders in the agriculture sector.
Planet has appointed Nate Gonzalez as VP of Platform Product and Ali Jafari as VP of Corporate Development, enhancing its leadership team as it prepares to go public through a merger with dMY Technology Group, Inc. IV (NYSE: DMYQ). Gonzalez brings experience from Facebook and PayPal, focusing on customer engagement, while Jafari has 20 years in finance and business development, previously with Nextdoor and Twitter. Their expertise is expected to drive growth and innovation as Planet leverages its satellite technology to address global challenges.
dMY Technology Group IV has successfully closed its initial public offering, raising $345 million by selling 34.5 million units at $10 each. The offering included 4.5 million units sold due to underwriters' over-allotment. Each unit consists of a Class A common stock share and a redeemable warrant. The company's strategy is to seek a merger or acquisition primarily within the consumer technology sector, targeting firms valued between $1 billion and $3 billion. The shares begin trading on the NYSE under the symbol 'DMYQ.U'.
dMY Technology Group IV has priced its initial public offering at $10.00 per unit, raising funds through 30,000,000 units. Each unit includes one share of Class A common stock and one-fifth of a warrant, with whole warrants exercisable at $11.50 per share. The units will begin trading on the NYSE under DMYQ.U starting March 5, 2021, with the offering closing on March 9, 2021. The Company aims to focus on consumer technology companies valued between $1.0 billion to $3.0 billion.