Accenture explores space with Open Cosmos investment

Astronaut in space fixing a satellite | Accenture and Open Cosmos

Announced at this year’s World Satellite Business Week in Paris, Accenture has made a strategic investment, through Accenture Ventures, in Open Cosmos, a space technology company that focuses on the design, manufacturing and integration of satellites.

Founded in 2015, Open Cosmos builds and operates space missions, providing access to satellite data and insights on a global scale via a data services platform. Working together, the companies will help clients track and analyze data found in space in order to help solve business challenges found on Earth, particularly related to sustainability.

Open Cosmos is the latest company to join Accenture Ventures’ Project Spotlight following several investments made this year, including SpiderOak, Praxis Labs, Stardog and Cervest among others.

Rafel Jorda Siquier, founder and CEO, Open Cosmos, said: “Open Cosmos is one of the fastest growing companies in the satellite sector.

“This investment and collaboration with Accenture will help us achieve our goal of simplifying access to space using smaller satellites and ensure that a greater number of organizations all over the world can benefit from the richness of satellite data to improve sustainability, logistics and other global and business challenges.”

Paul Thomas, Space Innovation lead, technology innovation at Accenture, said: “Today we stand at the edge of a paradigm shift, as numerous companies strive to democratize access to space and provide access to its valuable information.

“Open Cosmos is dedicated to helping their customers solve problems using data and insights from space. Working together, we envisage a world where space technology and data are more accessible and can be more easily harnessed and interpreted to fuel innovation and drive sustainable progress.”

This announcement follows Accenture’s recent expansion in its partnership with Workday, to help organizations reinvent their finance functions to be more agile, data-driven and customer-centric.

Accenture and Workday are collaborating to develop a suite of data-led, composable finance solutions that can be configured and reconfigured to help clients in the software and technology, retail and media industries to be more responsible to changing business needs.

Both companies are working with Salesforce to implement a robust finance technology platform as part of its objective to provide new business insights, enhance agility and improve employee experiences.