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In the summer of 2010, after spending some time at the Ames Research Center in Mountain View, California, Emiliano Kargieman started developing the concepts that would become Satellogic. He realized there was a great opportunity: to bring to the satellite services industry many of the lessons learned during the last two decades of working with Information Technology, and build a platform that provides spatial information services, without major investments in infrastructure. Together with his friend and colleague, Gerardo Richarte, they started Satellogic.
Since 2010, the company has grown from a small start-up to a multinational company that has customers around the globe.
Satellogic made Argentina 's first two nanosatelites, CubeBug-1 (nickname El Capitán Beto, COSPAR 2013-018D, launched 26 April 2013 on a Long March 2D launch vehicle) and CubeBug-2 (nickname Manolito, also known as LUSAT-OSCAR 74 or LO 74, COSPAR 2013-066AA, launched 21 November 2013 on a Dnepr launch vehicle). Their third satellite, BugSat 1, launched in June 2014. Both the CubeBug-1 and CubeBug-2 as well as the BugSat 1 satellite served as technology tests and demonstrations for the ÑuSat satellites. They also had amateur radio payloads. [ citation needed ]
The CubeBug project was sponsored by Argentinian Ministry of Science, Technology and Productive Innovation. Satellogic began launching their Aleph-1 constellation of ÑuSat satellites in May 2016.
On 19 December 2019, Satellogic announced they have received US$50 million in funding in the latest funding round. In January 2022 the company went public with a special-purpose acquisition company (CF Acquisition Corp. V) merger. In connection with the closing of the business combination and other transactions, Satellogic received gross proceeds of approximately $262 million to fund its satellite constellation. Satellogic planned to have 202 satellites in orbit by 2025 and expected revenue of $480 million in 2025. Former US Secretary of the Treasury Steven Mnuchin and Cantor Fitzgerald CEO Howard Lutnick invested in the SPAC merging with Satellogic and became major investors.
Satellogic announced a partnership with Palantir Technologies in 2022.
As of June 2024, Satellogic had 26 satellites in operation in space and staff of about 140 people. Its revenues for all of 2022 were $6-8 million, and for 2023 $10 million.
After President-elect Donald Trump announced in November 2024 that he would make Howard Lutnick the new US Secretary of Commerce, Lutnick resigned from the Satellogic board of directors. At the same time, his company Cantor Fitzgerald increased its stake in Satellogic.