AstroVision Raises Seed Capital To Begin AVStar System

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AstroVision Raises Seed Capital To Begin AVStar System

AstroVision International, Inc., has raised US$5 million in venture capital funding to build its satellite system. The funding from SpaceVest, Reston, Va., and Sofinov, Montreal, will allow AstroVision to select a prime contractor to begin building its proposed US$250 million five satellite AVStar system and apply to the U.S. Federal Communications Commission (FCC) for a frequency license. The geostationary orbiting satellites would provide a live video feed of Earth from space. AstroVision is meeting with investors to raise the second round of financing, to cover the cost of the first two satellites, which would be deployed over the United States.

AstroVision expects the 300 kg (660 lbm) satellites to cost US$50 million each. Each spacecraft will be equipped with two sets of cameras: a wide-field camera with 7 km (4.3 mile) resolution and a narrow-field camera with a 0.5 km (0.3 mile) resolution. AvStar will deliver one frame every four seconds, compared to one frame every 15 to 20 minutes for current weather satellites.

The AstroVision business plan starts with a focus on selling live weather information to broadcast and internet media outlets. Viewers would be able to watch storms approaching live on air and over the internet and television. NASA has signed a two-year, US$9.4 million contract with AstroVision to study tornado formation in the United States.

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June 19, 2000