Descartes Labs is a Sante Fe-based geospatial data and intelligence company. The company is the first of its kind with the goal of “creating a geospatial data refinery to fuel predictive models.” Since Descartes Labs was founded in 2014, it has since expanded to have offices across the United States and services numerous global companies, impact organizations, governments across a wide range of industries. With that in mind, Descartes Labs certainly seems like a prime candidate for an initial public offering, or IPO.
Will Descartes Labs IPO?
There is currently no verified confirmation that Descartes Labs will have an IPO at the present time. Former Descartes Labs CEO Phil Fraher stated in a January 2020 interview with Santa Fe New Mexican that, “At some point you have to IPO or be acquired…That is not the explicit goal now. The goal is to build something of extreme value. … If we don’t become a planetary data refinery, someone else will do it. I want to do it first.”
Current Descartes Labs CEO Terry Cunningham has not made any public statements on the possibility of a Descartes Labs IPO.
Why Would Investing in Descartes Labs Be Worthwhile?
To say that Descartes Labs is an innovative company is an understatement. What the company sells themselves on is their capability to, “generate predictive models that can make important decisions without relying on on real-time human involvement.” Read more about what makes the company so unique by clicking here: Descartes Labs.
An example of a recent Descartes Labs project would be the company’s collaboration with the World Resources Institute and National Geographic on forming methods like remote sensing and machine learning to efficiently map urban land use in any city.
Unilever has utilized the Descartes Labs platform to increase the overall efficacy of their deforestation alerts to help the environment.
Descartes Labs won a contract in October 2020 with the Air Force Research Lab’s Space Technology Advanced Research program. According to a Descartes Labs press release, the contract will enable the Descartes Labs platform to, “Empower AFRL to generate real-time analytics at a global scale and improve decision making down to the tactical level. Through advanced artificial intelligence and computer vision, the platform will also enhance AFRL’s ability to generate moving target indication (MTI) data and information for ground and airborne targets, a previously unsolved challenge that exists within the Intelligence, Surveillance, and Reconnaissance (ISR) community. Access to the Descartes Labs Platform will increase operational speed and effectiveness across all levels of the Air Force agency.”
Descartes Labs serves a plethora of industries, including agriculture, oil & gas, mining & metals, power & renewables, shipping & logistics, financial services & insurance, and more.