Accenture invests in Open Cosmos, expands satellite data access
PARIS, FRANCE — Leading global professional services firm Accenture announced a strategic investment in space technology company Open Cosmos.
The investment amount was undisclosed, but the move aligns with Accenture’s recent efforts to expand access to satellite data through its Project Spotlight initiative.
Launched in 2020, Project Spotlight represents Accenture Ventures’ approach to engaging with emerging technology software startups to address innovation gaps for large enterprises. The program gives startups unprecedented access to Accenture’s expertise and enterprise clients to help scale their solutions.
Open Cosmos simplifies satellite missions by providing affordable modular satellites and a data services platform. This allows multiple companies to benefit from a single satellite’s data collection.
“Although access to this data has traditionally been limited and costly, Open Cosmos removes these barriers with satellites that launch quickly and simply, providing fast access to data on climate changes, energy, resources, navigation and more,” said Tom Lounibos, Managing Director of Accenture Ventures.
According to Accenture’s 2023 Technology Vision report, 85% of executives believe advancements in space technology are rapidly fueling innovation within various industries, from space exploration to drug discovery.
Open Cosmos joins the ranks of other satellite data and image companies like Pixxel, Planet, and SpiderOak, which have also recently benefited from Accenture Ventures’ Project Spotlight investments.
As one of the fastest-growing satellite companies, Open Cosmos aims to democratize access to space using smaller, more affordable satellite missions. The partnership with Accenture will help expand their data services globally.
As a $61.6-billion outsourcing titan, Accenture recently clinched the top spot on the Time Doctor OA500, an index of the world’s top 500 outsourcing firms.
