Posted on August 05, 2022
Santa Fe high-tech startup Descartes Labs is seeking a $750,000 state loan to make lease payments on its downtown Santa Fe office complex for two years in the wake of the COVID-19 pandemic.
The company, which creates proprietary software used in satellite imaging and analysis, has laid off 12 employees from its local staff of 75 since the novel coronavirus economic shutdown took hold in March.
“Descartes Labs remains in a strong position for growth and our request for a LEDA loan is to assure our cash resources remain available to invest in our product and expanding our team,” the company said in a statement. Officials declined interviews.
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