San Francisco – Venture-backed Silicon Valley company, Spaceknow Inc., announces a new way to measure economic activity using satellite imagery. SPACEKNOW’s African Light Indices are based on light intensity measured by satellites.
“African countries in general suffer from a lack of economic related information. Countries that provide some indicators usually provide them with significant delay,” said Pavel Machalek, CEO and Co-founder. “The goal with our African Lights Index is to provide independent, unbiased economic indicators.”
By analyzing the presence of lights at night, SPACEKNOW’s platform can correlate electricity usage with development in Africa. Light intensity is being computed over whole areas of a given country. SPACEKNOW will become the first commercial company to provide a measure of economic development based on satellite imagery analysis for the countries in Africa.
Pavel Machalek continued, “Light transmissions not only work as a proxy for real-time economic activity but also give indications of the progress of electrification schemes, likes ones allowing farmers to use electrical pumps to irrigate their fields, and the development of industrial activity.”
Founded in 2013, Spaceknow Inc.,’s mission is provide access and analysis of satellite imagery to the world. By analyzing patterns in imagery data, users can measure or anticipate events. Spaceknow develops these products for monitoring economic activity for a wide variety of both consumer and enterprise clients.