Hypergiant, a Texas-based startup that launched a year ago and aims to use big data to dominate the new space race, announced today that it raised funds from Sumitomo Corporation of Americas and Perot Jain, the venture capital arm of Perot Industries. In a release, the company claims to be “on pace to be one of the fastest technology companies to reach $100M in realized revenue.”
The company, started by entrepreneur Ben Lamm, sends satellites into space to collect data, analyzes that info through machine learning, and sells the insights to customers, especially in the oil and gas industry—what it calls a “vertically integrated geospatial intelligence and infrastructure capability.” The industrial artificial intelligence sector is expected to generate $13 trillion in global economic activity in 2030, according to McKinsey.
Among Hypergiant’s innovations is an “Iron Man”-inspired space helmet, which displays vital signs and other data to astronauts on missions. When the astronaut glances at tags on their glove that relate to emergency alerts and other details, the helmet is signaled and the information is projected on a heads-up display.
Additional investors in this round include Align Capital; Tom Meredith, former CFO of Dell; and Steve Adler, mayor of Austin, Texas. Among its clients are oil services giant Schlumberger, General Electric, Bosch, Shell, Chesapeake Energy, and the Department of Homeland Security, and it has partnerships with Microsoft, Adobe, SAP, Booz Allen Hamilton, and Nvidia.