Space42 Plans Fundraising to Grow African Mapping Project

Abu Dhabi’s Space42 is in talks to raise funds to help the satellite communications company expand its mapping initiative in Africa.

Space42 is having early discussions with potential backers including the African Union Development Agency and financial firms about the project, Hasan Al Hosani, Space42’s chief executive officer in charge of smart solutions said. Existing partners for the Map Africa project, announced last month, include Microsoft Corp. and mapping software firm Esri. The conversations are early, and the business doesn’t yet have a target for how much it will raise, he said.