Last week I found a space SPAC (special purpose acquisition company) that I think has big potential. The SPAC is dMY Technology Group (NYSE: DMYQ), and it will soon merge with Planet Labs.

Planet Labs owns and operates a fleet of around 200 imaging satellites in low-earth orbit. These satellites are constantly imaging and analyzing the earth. Customers include farmers, who can use the near-real-time data to maximize their crop yields.

The company generated $113 million in revenue last year, but it is very early in the monetization process.

I learned about Planet Labs on Invest Like The Best, my favorite podcast. If you’re interested in the company, I strongly recommend listening to this podcast. It was a truly eye-opening interview. 

I also recommend this Seeking Alpha article, “Google-Backed Planet Set To Soar.”

I think Planet Labs has Google-like potential. It has the best custom satellite hardware, the lowest costs and a huge opportunity ahead of it.

With a post-merge valuation of around $2.5 billion, I think dMY offers a nice risk-reward ratio. So I made a sizable investment when share prices were around $11.10. It currently trades at around $11.30.

The post A Space Investment Worth Consideration appeared first on Early Investing.