Vietnam’s leading technology firm FPT Corporation has acquired US-based product engineering services firm Cardinal Peak, while Finland-based Kuva Space has raised $17.8 million in a funding round.
FPT to double down on North America post-acquisition
FPT Corporation has acquired US-based product engineering services firm Cardinal Peak, as it looks to strengthen its product engineering delivery capabilities in North America, according to a press release.
With 100 new people and a US office on board through the investment, the global IT firm has set its sights on doubling its product engineering services revenue in the Americas in the next two years.
Cardinal Peak will remain an independent entity post-acquisition, with access to FPT’s service offerings, greater scale, and global delivery options.
Founded in 1988, FPT is Vietnam’s earliest and largest technology company providing a variety of tech solutions, from Internet bandwidth to data centre, software development, and media.
Finnish space startup Kuva Space raises $17.8m
Earth observation company Kuva Space has raised $17.8 million in a funding round, according to a press release.
Existing investors Voima Ventures and Nordic Foodtech VC led the funding round, while Singapore-based Earth VC participated.
The round also included Finnish private investors through a Finland-based growth funding initiative with Springvest and non-equity funding from Business Finland.
The company will use the capital to fund expansion in key markets, starting with the US, and accelerate the development of its patented hyperspectral camera and space technology, double its team size, and launch its AI analytics platform.
Kuva Space also signed a 5 million euro commercial contract from the European Commission to be the sole provider of hyperspectral data services for the Copernicus programme.
The firm will also launch two new satellites in the coming year and launch its initial services. The first one, Hyperfield-1, is scheduled to launch in June 2024.