SpaceTech Sector Newsletter – April 2024

Seraphim Space Investment Trust PLC

02 May 2024

 

SERAPHIM SPACE INVESTMENT TRUST PLC
(the "Company" or "SSIT")

SpaceTech Sector Newsletter - April 2024

Seraphim Space Investment Trust plc (LSE: SSIT), the world's first listed SpaceTech investment company, publishes its monthly RNS Reach newsletter to provide updates, based on publicly available information, on the Company's portfolio investments, its Manager (Seraphim Space Manager LLP (the "Manager" or "Seraphim Space")) and the wider SpaceTech market. The following newsletter covers April 2024. 

SSIT Coverage

Third party research from Edison - SpaceTech's lift off moment may be now

Third-party research by      Edison Group on SSIT: Several key holdings funded to break even. [Read more]

Shares Magazine editorial -  The business of space has arrived impacting our everyday lives for the better

In a piece written for Shares Magazine, SSIT shares how space is the new industrial revolution - transforming all industries and addressing humanity's biggest challenges from climate change to global security, creating a better earth. [Read more]

Portfolio Update

ICEYE raises an oversubscribed $93m growth funding round

Finnish satellite company ICEYE, the global leader in synthetic aperture radar (SAR) satellite operations for earth observation, persistent monitoring and natural catastrophe solutions, announced the completion of an oversubscribed $93m growth funding round. ICEYE will use the funding to continue expanding the world's largest constellation of radar satellites and develop new products and services. Finnish sovereign wealth fund Solidium Oy led the round, with participation from Move Capital Fund I, Blackwells Capital, Christo Georgiev and existing investors. ICEYE continues to observe significant growth and finished 2023 with over $100m in revenue. [Read more]

HawkEye360 secures a $40m debt commitment

HawkEye360, a leading provider of space-based radio frequency (RF) data and analytics, announced it had secured $40m in debt financing from Silicon Valley Bank (SVB), a division of First Citizens Bank, to furthe its mission of delivering advanced geospatial capabilities. Over the past 12 months, HawkEye360 has raised $108m across its Series D-1 round, and this debt financing has cemented investors' and lenders' confidence in its business and financial momentum. HawkEye360 has raised over $400m in capital in under five years, a landmark achievement. [Read more]

SpaceX rocket launches 11 satellites on new Bandwagon-1 rideshare flight, including satellites from HawkEye360

The launch was the first for a new series of dedicated rideshare missions to complement SpaceX's existing Transporter missions. Unlike Transporter missions, which launch payloads into sun-synchronous orbits commonly used by remote sensing satellites, the Bandwagon missions are intended to send payloads to low earth orbits at inclinations of about 45 degrees. Bandwagon-1 carried 11 satellites, including six RF geolocation satellites called Clusters 8 and 9 for portfolio company HawkEye360. Hawkeye360 chose Bandwagon-1 because the mid-inclination orbit offered improved coverage over low and mid-latitudes compared to sun-synchronous orbits. These satellites will further support HawkEye360's work to help monitor and prevent illegal, unreported and unregulated (IUU) fishing across the Indo-Pacific region. [Read more]

D-Orbit announces In-Orbit Edge Computing collaboration with SkyServe STORM

D-Orbit, a leader in the space infrastructure, logistics and orbital transportation industry, announced that it will enable edge computing capabilities with the SkyServe STORM platform aboard some of its ION Satellite Carriers. SkyServe STORM will leverage D-Orbit's live earth observation data feed, onboard compute and data distribution resources to process images into inferences directly in space and deploying geospatial end-use applications. The mission is designed to enable geospatial organisations and analytics companies to deploy artificial intelligence models on satellites, aiming to significantly enhance in-orbit data processing and analytics capabilities.[Read more]

Mitsubishi Corporation joins Voyager Space's Starlab as strategic partner and equity owner in joint venture

Starlab Space, the joint venture between Voyager Space and Airbus, welcomed Mitsubishi Corporation as a strategic partner and equity owner. This partnership expands Starlab Space's reach beyond a transatlantic collaboration and transforms the joint venture into a global organisation. Mitsubishi Corporation is expected to leverage its capabilities to significantly increase the value of Starlab, using space research to enhance and accelerate terrestrial product development in multiple industries and expand access to space-based technologies globally.[Read more]

Astroscale unveils world's first image of space debris captured through rendezvous and proximity operations

Astroscale, a market leader in satellite servicing and long-term orbital sustainability across all orbits, has unveiled the first publicly released image of space debris captured through rendezvous and proximity operations (RPO). The image was taken by its commercial debris inspection demonstration satellite, Active Debris Removal by Astroscale-Japan (ADRAS-J), from several hundred meters behind the space debris, a rocket upper stage. The unprecedented image marks a crucial step towards understanding and addressing the challenges posed by space debris, driving progress toward a safer and more sustainable space environment. [Read more]

Spire Global secures multi-million Dollar deal with financial firm for weather forecasts

Spire Global, a global provider of space-based data, analytics and space services, has entered into a multi-million-dollar deal with a financial firm. The Company will provide its High-Resolution Weather Forecast model, which offers a six-day outlook powered by proprietary data collected from space, and develop an AI-powered model for long-range forecasting. Through this deal, Spire Global will build off of its recent collaboration with NVIDIA to leverage Earth-2, NVIDIA's platform for weather and climate change modelling, to train and run AI weather models. These models are projected to increase the accuracy of weather forecasts and produce long-range probabilistic forecasts at unprecedented speeds. [Read more]

SpaceTech Sector News

Seraphim Space announces the first close on a new early-stage fund to support SpaceTech's brightest stars

Seraphim Space, the world's leading SpaceTech-focused investment group, has announced the first close of its new venture fund, Seraphim Space Ventures II LP ("SSV II" or the "Fund"). Building on a roster of historic corporate backers that include significant players from the space sector, such as Airbus, SES, Teledyne, Telespazio, Inmarsat and MDA, SSV II further strengthens Seraphim Space's heavyweight industry backing with the addition of Eutelsat, NEC and SKY Perfect JSAT. With the space sector now entering the next phase of its transformation, the Fund will focus on investing at seed and Series A stages in the next generation of visionary entrepreneurs looking to transform science fiction into science fact. [Read more]

Seraphim Space releases the Seraphim Space Index Q1 2024

Since 2017, Seraphim Space has been producing the Seraphim Space Index report - covering over 1700 deals, sharing unique access to knowledge and data about investing in global space technology. This data is now available in an easy-to-use interactive format to complement the pdf version. It was noted that, in Q1 2024, the space sector maintained its upward trajectory, with $2.4bn invested, marking a steady increase from Q4 2023's $2.1bn. This is part of a larger trend of $7.2bn invested over the trailing 12 months to Q1 2024. [Read more]

The World Economic Forum releases 'Space: The $1.8 Trillion Opportunity for Global Economic Growth' insight report

A new report released by the World Economic Forum in partnership with McKinsey & Company announced the space economy could be worth $1.8tn by 2035, up from $630bn in 2023 - almost twice the global GDP growth rate. This report shows that space technologies are delivering more excellent value to more diverse stakeholders than ever before. [Read more]

Media

Video webinar

The Seraphim Space Index Q1 2024 Explained: Seraphim Space investors Dr Maureen Haverty and Lucas Bishop discuss the findings of the Seraphim Space Index Q1 2024. They explore the investment activity across the previous quarter, discussing where investment has taken place, including stage, geography and category. The webinar provides a deep understanding of investment data in the sector. [Watch]

Conferences

·           In-Orbit Servicing and Manufacturing Conference: Seraphim Space Investment Analyst Lucas Bishop is speaking on 8 May 2024 in Oxford. [Details]

·           Techstars DeepTech Event: Seraphim Space Investment Analyst Lucas Bishop is speaking on 14 May 2024 in Berlin. [Details]

·           Dublin Tech Summit: Seraphim Space Managing Partner Rob Desborough is speaking on 29 May 2024 in Dublin. [Details]

Find out where to meet and hear from Seraphim Space's team by following its social media, LinkedIn / Twitter.

Sign up to receive Seraphim Space's monthly newsletter directly to your inbox. [Sign up]

Neither the Company's website nor the content of any website accessible from hyperlinks in it or in this newsletter (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of, this newsletter.

- Ends -

Media Enquiries

Seraphim Space Manager LLP (via SEC Newgate)
Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough
SEC Newgate (Communications advisers)	[e-mail]
Emma Kane / Clotilde Gros / George Esmond	[phone]
Deutsche Numis
Mark Hankinson / Gavin Deane / Neil Coleman / David Benda	[phone]
J.P. Morgan Cazenove
William Simmonds / Jérémie Birnbaum / Rupert Budge	[phone]
Ocorian Administration (UK) Limited	[e-mail]
Lorna Zimny	[phone]

Notes to Editors

About Seraphim Space Investment Trust plc

Seraphim Space Investment Trust plc (the "Company") is the world's first listed fund focused on SpaceTech. The Company seeks exposure predominantly to early and growth stage private financed SpaceTech businesses that have the potential to dominate globally and that are sector leaders with first mover advantages in areas such as climate, communications, mobility and cyber security.

The Company is listed on the Premium Segment of the London Stock Exchange.

Further information is available at: https://investors.seraphim.vc.

About Seraphim Space Manager LLP

Seraphim Space Manager LLP ("Seraphim Space" or the "Manager") is based in the UK and manages Seraphim Space Investment Trust plc and Seraphim Space Ventures II LP.

Further information is available at www.seraphim.vc.

About Seraphim Space Accelerator Ltd

Seraphim Space Camp Accelerator Ltd, an affiliate of Seraphim Space Manager LLP based in the UK, established the Seraphim Space Accelerator in 2018 and has developed it to become the world-leading VC-led accelerator with a focus on SpaceTech. The accelerator programme brings in-depth industry expertise to get Seed and Pre-Series A SpaceTech companies 'investment ready' while facilitating relationships with some of the world's leading Space corporates and agencies.

Further information is available at www.seraphim.vc.

About Generation Space LLC

Generation Space LLC is the US subsidiary of Seraphim Space Manager LLP and is responsible for its US activities. Generation Space LLC is an affiliate of Seraphim Space Camp Accelerator Ltd and is responsible for delivery of the US Generation Space Accelerator.

Further information is available at www.generation.space.

 

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