Strategic Alliance to Evolve Real Estate Data and Analytics
NEW YORK--(BUSINESS WIRE)--Aug. 21, 2023--
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data (“EO”) collection, announced today that it has signed an agreement with Quant Data & Analytics (“Quant”), a leading Saudi provider of Data & AI Products and Enterprise Solutions focused on the real estate and retail sectors. This strategic agreement leverages Satellogic’s high-resolution satellite imagery to serve and evolve the ever-expanding property tech landscape across the Kingdom of Saudi Arabia and the Gulf region.
Quant’s collaboration with Satellogic will lead to the development of derivative products, transforming and broadening the adoption of data science, AI, and SaaS products for real estate and retail. Satellogic’s flexible and scalable business model will support Quant’s Suhail platform, an interactive real estate tool for agencies, developers, and clients. The agreement will empower the Saudi Arabian and Gulf region’s real estate and retail sector by delivering AI solutions and unparalleled insights, accuracy, and efficiency for driving growth and enhancing decision-making processes.
Ahmed Bukhamseen, CEO of Quant Data & Analytics, stated, “Our collaboration with Satellogic marks a momentous advancement in data analytics for our region. The integration of high-resolution satellite imagery with our AI and geospatial technologies elevates our interactive real estate platform, Suhail, and Location Intelligence tool powered by Fruits360 to unprecedented levels. This strategy resonates with our vision of a data-driven global economy and fulfills our goal to spread, implement, and automate data-led solutions.”
Caitlin Kontgis, Satellogic’s Senior Vice President of Commercial and Growth, added, “Quant is redefining the future of real estate and retail, creating opportunities for evolving processes such as property valuations and insurance underwriting. They needed an Earth Observation data provider capable of delivering high capacity, high resolution, and frequent revisits at an attainable price. This relationship illustrates the potential of Satellogic’s Earth Observation business model.”
This collaboration is timely, coinciding with increased Saudi government investment in infrastructure to stimulate tourism, residential, and commercial real estate developments. Leveraging Satellogic’s high-resolution EO satellite constellation, the agreement will enable monitoring of rapid urban development and compliance with environmental and zoning regulations, enhancing competitiveness in the high growth market.
By harnessing the power of satellite imagery, Quant is laying the foundation for a futuristic approach to data-led development, monitoring, and decision-making. This collaboration promises to be a game-changer in utilizing big data to make transformative impacts on real estate, retail and beyond.
About Quant Data & Analytics
As data became excessive and abundant, Quant was established as a Saudi consultancy company to provide services such as Data Analytics, Business Intelligence, Artificial intelligence, Machine Learning, Data Quality Management, and Analytics Training, Predictive Analytics, as well as AI & BI SaaS products. At Quant, we empower aspiring businesses and dynamic governments to become data-driven through our offered services, which allows them to optimize operations, enhance efficiency, and augment decision-making.
Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated Earth Observation platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers.
Satellogic’s mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world’s most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry.
With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point.
To learn more, please visit: http://www.satellogic.com
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategies, Satellogic’s future opportunities, and the commercial and governmental applications for Satellogic’s technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Satellogic’s ability to scale its constellation of satellites and to do so on Satellogic’s projected timeframe and in accordance with projected costs, (ii) Satellogic’s ability to continue to meet image quality expectations, to continue to enhance the capability of its network of satellites and to continue to offer superior unit economics, (iii) Satellogic’s ability to become or remain an industry leader, (iv) the number of commercial applications for Satellogic’s products and services, (v) Satellogic’s ability to address all commercial applications for satellite imagery, changes in the competitive and highly regulated industries in which Satellogic operates, variations in operating performance across competitors and changes in laws and regulations affecting Satellogic’s business, (vi) the ability to implement business plans, forecasts and other expectations, and to identify and realize additional opportunities, (vii) the risk of downturns in the commercial launch services, satellite and spacecraft industry, (viii) the risk that the market for Satellogic’s products and services does not develop as anticipated, (ix) the risk that Satellogic and its current and future collaborators are unable to successfully develop and commercialize Satellogic’s products or services, or experience significant delays in doing so, (x) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xi) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic’s products and services, and (xii) the risk that Satellogic is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 20-F and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.
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Chris Tyson/Larry Holub
Source: Satellogic Inc.