startups :-

Korean startup CONTEC looking to transform space tech globally


korean startup contec looking to transform space tech globally

Contec , a Korean startup, is working to revolutionize the space sector by providing holistic solutions for downstream data transmitted through satellites. The company applies AI-based detection and change detection methods in satellite imagery analysis and application. Contec is tasked as an end-to-end service provider

through turn-key solutions for space operators.

As a spin-off from the Korea Aerospace Research Institute (KARI) Contec offers Satellite Image Processing and Application Services, Space Ground Station Services, and whole-ground integration solutions. Launched in 2015 in Korea and Luxemburg in 2019, the two offices have 58 engineers. Contec CEO Sunghee Lee formerly worked at KARI for 16 years.

The startup has raised $11 million in a Serie B from Atinum Investment which was a major investor alongside 4 other major VC investors across Korea such as the Korean Development Bank , Korean Investment Partners , Industrial Banks of Korea , and Intellian Tech. The funds go into the construction of more ground stations and the development of new technologies such as space-to-ground FSO communication.

Contec provides Ground Station (GS) service through its own ground stations and also services major EO satellites. The first station was set up in Jeju (Korea), with several others under construction this year. The company looks to scale its offering with 12 ground stations spread out across Alaska, Chile, South-East Asia, Europe, Australia, and Africa by 2024.