Unseenlabs Funding, Investors & Competitors

Unseenlabs has raised $125M across 3 funding rounds, most recently a $92M Series C in February 2024.

Last Unseenlabs funding round

$92M

Series C · Feb 2024

Cumulative funding Unseenlabs raised

$125M

across 3 funding rounds

Key investors in Unseenlabs

  • Breizh Up
  • Bpifrance
  • 360 Capital
  • Omnes Capital
  • S2G Investments
  • Supernova Invest
  • Blue Oceans Partners
  • Unexo

Unseenlabs Overview

About Unseenlabs

Unseenlabs is a space-based maritime surveillance provider that deploys microsatellite constellations to detect electromagnetic signals from vessels. Operating from Toulouse, France, the company geolocates dark ships with transponders off, combating illegal fishing, oil degassing, and piracy for clients including governments and insurers worldwide.


Founded

2015

HQ

FranceRennes

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Subscription

Unseenlabs Funding History

Unseenlabs has raised a total of $125M across 3 funding rounds.

Unseenlabs' first fundraising round was a $9M Series A in September 2018. The most recent completed round was a $92M Series C in February 2024.

Unseenlabs funding rounds

Unseenlabs funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2024Series CISALT (lead); Supernova Invest (lead); Unexo (lead); 360 Capital; Bpifrance; S2G Investments; Omnes Capital; Breizh Up$92MUnseenlabs, a Rennes, France-based company founded in 2015 by brothers Clément and Jonathan Galic, specializes in maritime surveillance by detecting and geolocating radio frequency (RF) signals emitted by ships from space using its microsatellite constellation. The company currently operates 11 satellites, with plans to launch BRO-12 and BRO-13 in March 2024 on SpaceX's Transporter-10 mission and deploy 10 more by end-2025 to enhance revisit times and data freshness. This technology enables monitoring of vessels, including those turning off AIS transponders, serving defense, government maritime missions, and private sectors like oil & gas, insurance, shipowners, economic intelligence, and offshore energy. On February 27, 2024, Unseenlabs closed an €85 million ($91.9-92 million) funding round, one of the largest in the space sector, led by new investors Supernova Invest, ISALT (via its Strategic Transition Fund), and UNEXO. Historical investors 360 Capital, Bpifrance, Breizh Up (managed by UI Investissement), Omnes Capital (listed as OMNES), and S2G Ventures (S2G Investments) participated, reaffirming support. The round brings total funding to €120 million ($130 million) since inception, following prior rounds in 2018 and 2021. Sources vary slightly on cumulative totals (e.g., one reports €112.5 million), but the company states €120 million. Proceeds will fund satellite constellation expansion, international growth in US and Asian markets, new product development, private sector consolidation, and talent recruitment to accelerate growth and solidify RF maritime surveillance leadership. 2023 was described as an inflection point, validating the business model amid rising Earth observation demand, with investors citing disruptive tech and high-value data for maritime applications. Unseenlabs positions itself as redefining space-based RF observation standards, with strong investor confidence in its long-term global potential.
Apr 2021Series B360 Capital (lead); Omnes Capital (lead); Blue Oceans Partners; Hemeria; Breizh Up$24MUnseenlabs is a Rennes, France-based spacetech company founded in 2015 by Clement Galic and Jonathan Galic, specializing in maritime surveillance through satellite-borne electromagnetic spectrum monitoring to detect and geolocate radio frequency signals from non-cooperative vessels worldwide. The company operates a constellation of orbiting satellites that track maritime traffic, particularly ships that disable their AIS identification systems, aiding in detection of illegal fishing, smuggling, piracy, and sanctions evasion. In April 2021, Unseenlabs completed a €20 million ($24.2M) Series B funding round led by Avolta Partners, with participation from new investors 360 Capital Partners, Omnes Capital, Blue Oceans Partners, and existing investors Definvest and Breizh Up. The funds were earmarked to accelerate commercial growth and expand their satellite constellation beyond the existing three satellites. This Series B followed a prior €7.5M raise in 2018 from Definvest, Breizh Up, and Nexeya. Unseenlabs has since raised additional rounds, including a record €85M in 2024 from Supernova Invest, ISALT, UNEXO, and historical backers like 360 Capital, Omnes, Bpifrance, Breizh Up (via UI Investissement), and S2G Ventures, bringing total funding to over $125M across seven rounds as of 2024.
Sep 2018Series ANexeya Services; Bpifrance; Breizh Up$9M-

Who has invested in Unseenlabs?

11 investors have backed Unseenlabs across its funding rounds, including Breizh Up, Bpifrance, 360 Capital, Omnes Capital, S2G Investments and Supernova Invest.

Lead investors include ISALT, Supernova Invest, Unexo, 360 Capital and Omnes Capital.


Unseenlabs Investors

Investors in Unseenlabs by funding rounds participated
InvestorHQRoundsRoleFirst check
Breizh UpFranceParis3ParticipantSep 2018
360 CapitalFranceFrance2LeadApr 2021
BpifranceFranceParis2ParticipantSep 2018
Omnes CapitalFranceFrance2LeadApr 2021
Nexeya ServicesFranceParis1ParticipantSep 2018
ISALTFranceAmiens1LeadFeb 2024
Blue Oceans PartnersFranceParis1ParticipantApr 2021
Supernova InvestFranceParis1LeadFeb 2024
S2G InvestmentsUnited StatesChicago, IL1ParticipantFeb 2024

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Unseenlabs Competitors

Unseenlabs competitors include listed companies like Full Truck Alliance, WiseTech Global, Zhuzhou CRRC Times and Descartes Systems Group, and private ones like Flexport and Kpler.

Public and private companies comparable to Unseenlabs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Full Truck AllianceChinaChinaPublicly listed$1.9B$676M$8.4B2.8x
FlexportUnited StatesSan Francisco, CAPrivate$471M-$8B-
WiseTech GlobalAustraliaAustraliaPublicly listed$779M$315M$7.6B6.8x
Zhuzhou CRRC TimesChinaChinaPublicly listed$4.3B$710M$7.5B1.8x
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$6.8B8.1x
KplerBelgiumBrusselsPrivate$300M-$3.7B12.3x

Unseenlabs Public Comps

Unseenlabs is still privately-owned, but its public comps include SpaceX, Roper Technologies, Dassault Systemes, EchoStar, AST SpaceMobile, China Satellite, Manhattan Associates, Globalstar, China Spacesat and Viasat.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SpaceX$19B$3.9B106.0x-503.3x-
Roper Technologies$7.9B$3.2B6.1x5.7x15.2x14.6x
Dassault Systemes$7.2B$2.2B4.0x4.0x13.2x11.2x
EchoStar$15B($16B)3.0x3.1x(2.8x)21.5x
AST SpaceMobile$71M($419M)282.1x148.3x(47.7x)(72.4x)
China Satellite$394M$263M36.7x-55.0x-
Manhattan Associates$1.1B$288M11.2x10.6x42.2x29.7x
Globalstar$273M$126M39.2x37.9x85.2x77.4x

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Common questions about Unseenlabs

When was Unseenlabs founded?Unseenlabs was founded in 2015.
Where is Unseenlabs headquartered?Unseenlabs is headquartered in Rennes, France.
Is Unseenlabs publicly listed?No, Unseenlabs is a private, VC-backed company.
How much funding has Unseenlabs raised?Unseenlabs has raised $125M across 3 funding rounds.
What was Unseenlabs' last funding round?Unseenlabs' last funding round was a $92M Series C in February 2024, led by ISALT, Supernova Invest and Unexo.
Who are Unseenlabs' investors?Unseenlabs' investors include Breizh Up, 360 Capital, Bpifrance, Omnes Capital, Nexeya Services, ISALT, Blue Oceans Partners, Supernova Invest, S2G Investments, Unexo and 1 other.
Which companies are comparable to Unseenlabs?Companies comparable to Unseenlabs include Full Truck Alliance, Flexport, WiseTech Global, Zhuzhou CRRC Times, Descartes Systems Group and Kpler.

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