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TruWeather Solutions has partnered with Spire Global to enhance micro-weather data for Unmanned Aerial Systems (UAS) and Advanced Air Mobility (AAM). This collaboration, supported by a SBIR grant from NASA, aims to improve operational safety in urban airspace by utilizing Spire's weather data with TruWeather's expertise in aviation weather. The partnership will focus on urban wind hazards and decision-making tools like TruFlite V360, which enhances flight safety and efficiency. This initiative positions both companies to capitalize on the growing UAS and AAM markets.
Spire Global has launched a new platform, Spire Bridge, and an analytics product for the maritime industry called Spire Analytics. This new initiative aims to enhance customer access to data by enabling users to create customized dashboards and alerts. The platform offers features for monitoring data usage and operationalizing information effectively. As of January 2021, Spire operates over 100 satellites that collect extensive maritime data, which will assist organizations in leveraging actionable insights for better decision-making.
Spire Global announced a $70 million convertible term loan agreement with Francisco Partners to accelerate its growth in space-based data and analytics. The deal will convert existing debt and grant Francisco Partners a stake in the company. Spire is also preparing for a public listing through a business combination with NavSight Holdings (NYSE: NSH). CEO Peter Platzer highlighted that the financing would enhance intersatellite link technology, vital for reducing data latency, particularly for aviation clients seeking timely insights.
Spire Global, a provider of space-based data, announced the hiring of Dr. Shay Har-Noy as General Manager of Aviation to enhance its air travel and shipment services. This appointment complements the recent addition of Durjoy Mazumdar as Sales Executive of Weather Solutions. Dr. Har-Noy will leverage Spire’s satellite data to improve safety and efficiency in aviation, utilizing the LEMUR satellite constellation for real-time aircraft tracking. The company expects to close its business combination with NavSight Holdings (NYSE: NSH) in summer 2021, strengthening its market presence.
Spire Global has announced the appointment of Durjoy Mazumdar as Sales Executive of Weather Solutions, enhancing its sales strategy in key verticals. Mazumdar, previously the Global Head of Enterprise Sales at The Weather Company, will focus on accelerating product development in weather data services. Spire aims to capitalize on a projected $91 billion market opportunity by 2025 across various sectors including renewable energy, aviation, and agriculture. The company anticipates closing its merger with NavSight Holdings in summer 2021.
Spire Global and NavSight Holdings have agreed on a merger, aiming to take Spire public. This transaction could yield up to $475 million in gross proceeds, backed by a $245 million PIPE from notable investors including Tiger Global Management and BlackRock Advisors. After the merger, Spire shareholders will retain 67% of the combined company's equity. The deal requires approval from stakeholders and regulatory bodies and is projected to close by summer 2021. This merger is positioned to bolster Spire's growth, enhancing its space-based data services across various industries.
