SpaceTech Sector Newsletter - February 2024

Seraphim Space Investment Trust PLC

04 March 2024

 

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

SpaceTech Sector Newsletter - February 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 February 2024. 

Portfolio Update

LeoLabs raises $29m to deliver enhanced AI-powered insights

LeoLabs, the company with the largest and most comprehensive commercial catalogue of objects in low Earth orbit (LEO), announced the raising of an additional $29m of funding. This latest funding, led by GP Bullhound, enables LeoLabs to scale up its insight delivery by further investing in advanced end-user applications and partner integrations. LeoLabs has transformed space operations with its global, proliferated radar network, low latency and the world's largest commercial orbital catalogue, increasing the visibility of more than 20,000 objects in LEO. Using artificial intelligence (AI), the company processes the millions of measurements it collects into critical insights for both commercial and government operators to ensure space safety, security and sustainability. [Read more]

Astroscale successfully launches the world's first debris inspection spacecraft, ADRAS-J

Astroscale, the market leader in satellite servicing and long-term orbital sustainability across all orbits, confirmed the successful launch of its commercial debris inspection demonstration satellite, Active Debris Removal by Astroscale-Japan (ADRAS-J) from Rocket Lab's Launch Complex 1 in New Zealand. The ADRAS-J mission is the world's first attempt to safely approach, characterise and survey the state of an existing piece of large debris through innovative rendezvous proximity operations (RPO). [Read more]

Voyager Space and Palantir Partner on AI for Starlab

Palantir, the AI data and analytics unicorn, is getting more deeply involved in the space domain. The company announced that it had entered a strategic collaboration with Voyager Space to explore potential AI and machine learning demonstrations in space, with an eye on the development of Voyager's commercial space station, Starlab. This alliance represents a shared commitment to advancing the frontiers of global commerce, civil and national security capabilities, reaffirming the critical role industry has to bring leading-edge technology to the evolving landscape of space exploration and security. [Read more]

Signal Ocean to make a $10m strategic investment into Spire Global to drive digitalisation in the maritime economy

Signal Ocean, a leader in shipping technology, has agreed to partner with Spire Global to drive digitisation of the maritime economy. Under this partnership, Spire and Signal Ocean will leverage their respective strengths: Spire will contribute its unique, proprietary datasets that are relevant for precise monitoring of the maritime domain and Signal Ocean will bring its best-in-class expertise in AI, machine learning and natural language processing to create new innovative solutions to propel the digitalisation of the maritime economy while enhancing global security and transparency in our oceans. [Read more]

SpaceTech Sector News

Seraphim Space released its 2024 SpaceTech ecosystem map

The Seraphim Space ecosystem map details the most innovative and exciting, top-funded SpaceTech companies globally, comprising over 300 companies from 30 different countries. The team at Seraphim Space collect this data through independent analysis, looking at companies that are servicing each of the major segments of the New Space market. This unique data helps support the wider SpaceTech and investment ecosystems to understand which companies in which markets are excelling, helping to educate the sector. [Map]

Privately built lunar lander makes history with successful moon touchdown

A robotic spacecraft made history by becoming the first privately built craft to touch down on the lunar surface. This achievement reflects the dynamism of startups and is a result of the National Aeronautics and Space Administration (NASA) and the US government's commitment to the growing commercial space sector. Its approach, favouring outsourcing and avoiding competition with the private sector, has been good for the US-taxpayer. The mission cost $118 million and took only 27 months from contract to lunar landing. The lander, built by Intuitive Machines, touched down on the lunar surface after overcoming a late-stage glitch with its onboard laser instruments and navigation issues in the hours leading up to its touchdown on the moon's surface. When the vehicle reached its destination, it tripped on the surface, leaving the spacecraft leaning on its side. Intuitive machines revealed the lander has "efficiently sent payload science data and imagery in furtherance of the company's mission objectives" declaring it a success. Nevertheless, the company said that two of the spacecraft's communication antennae were knocked out of commission, pointed the wrong way, and that its solar panels were likewise facing the wrong direction, limiting the vehicle's ability to recharge its batteries. As a consequence they expect to lose contact in coming days, cutting short the mission. The Nova-C lander, nicknamed Odysseus, is now the first American spacecraft on the moon since the Apollo 17 mission in 1972. [Read more]

Japan successfully launches H3 rocket after back-to-back failures

Japan successfully launched its next-generation rocket into orbit after two failed attempts cast a pall over Tokyo's space ambitions. The H3 had a successful liftoff and entered its planned orbit carrying a dummy satellite and two functioning microsatellites. The H3's microsatellites are expected to assist with disaster prevention efforts and monitor the operation conditions of factories. [Read more]

Media

Video webinars

·           The Seraphim Space Ecosystem Map 2024: The Seraphim SpaceTech ecosystem map for 2024 details the state of innovation in the upstream, downstream and in-space economies. Seraphim Space investors Dr Maureen Haverty and Lucas Bishop discussed with Leah Martin the most exciting and well-funded VC-funded SpaceTech startups. This year, the map represents 347 businesses from 30 different countries. The discussion covered the top geographies and companies servicing the segments that build, launch, collect, analyse and produce products. [Watch]

Conferences

·           SpaceComm Farnborough: Seraphim Space investors Rob Desborough and Lucas Bishop  are speaking on the 6 and 7 March. [Details]

·           Paris Space Week: Seraphim Space investment principal Maureen Haverty is speaking on 12 March. [Details]

·           Satellite 2024: Seraphim Space CEO Mark Boggett is speaking on 16 March in Washington. [Details]

·           Hello Tomorrow Global Summit: Seraphim Space Partner Andre Ronsoehr is speaking on 21 March in Paris. [Details]

·           ESA SpaceTalks: Seraphim Space Managing Partner Rob Desborough is speaking on 26 March in Oxford. [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	[phone]
Deutsche Numis
Mark Hankinson / Gavin Deane / Neil Coleman	[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.

Further information is available at www.seraphim.vc.

About Seraphim Space Camp 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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