According to Eu-startups, among the financial supporters of the project is the French government, European Investment Bank and NewSpace Capital.

Kyrros was founded back in 2016 and ever since its main purpose was the analysis of natural resources, industrial assets and the environment to help companies better understand these sectors.

In order to collect all the necessary data, Kyrros collaborates with the French National Center for Space Studies and the European Space Agency.

The team behind the project uses technologies that help them monitor the impact of gases such as methane and carbon in the environment.

The collected data is then used to aid private and public organizations manage climate risks, implement strategies for lowering the carbon footprint and even achieve important sustainability goals.

Adrien Muller, investor at Bpifrance said that "the availability of reliable near real-time climate data is a strategic advantage for a country’s energy security, sustainability and economic growth."

The new funding is an important step towards achieving the France 2030 agenda, which is a governmental investment plan that aims to transform certain sectors of the French economy through innovative ideas from a sustainability point of view.

Ambroise Fayolle, Vice President of EIB, added that "energy security and the carbon footprint are key issues for the public and private-sector. Kayrros has built powerful solutions to tackle these challenges. Kayrros’ objectives are aligned with European economic and climate policy..."