SpaceTech Sector Newsletter June 2023

Seraphim Space Investment Trust PLC

05 July 2023

 

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

SpaceTech Sector Newsletter - June 2023

Seraphim Space Investment Trust plc (LSE: SSIT), the world's first listed SpaceTech investment company, publishes its monthly 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 June 2023. 

SSIT Portfolio Update

SpaceX launches satellites from five SSIT portfolio companies further three Seraphim Space Accelerator alumni

Seraphim portfolio companies made up a significant share of the SpaceX rocket successfully launched on 12 June 2023. This launch included 72 payloads, including 13 satellites from five SSIT portfolio companies (ICEYE, Tomorrow.io, Spire, D-Orbit and the first commercial launch for Satellite Vu), along with three companies from the Manager's affiliated Seraphim Space Accelerator alumni (ODIN Space, Starfish Space and Wyvern). [link]

Portfolio company Tomorrow.io raises $87M in Series E funding round

Tomorrow.io announced an $87 million Series E funding round and the successful launch of its second satellite on SpaceX's most recent launch. Tomorrow.io is the world's only space-powered AI weather intelligence platform. Activate Capital led the round, alongside Seraphim Space, RTX Ventures and Chemonics. Tomorrow.io expects its future constellation of more than 20 satellites will bring breakthroughs in forecasting and climate observation with near real-time scans of precipitation and atmospheric profiles. This funding round will accelerate the constellation deployment and other strategic initiatives. [link]

Portfolio company Pixxel secures $36M in Series B funding round

Pixxel secured $36 million in a Series B funding round, with participation from notable investors including Google. This funding will propel Pixxel's mission to develop the world's first and highest-resolution hyperspectral satellite constellation. By harnessing cutting-edge earth-imaging technology, Pixxel aims to provide actionable climate insights on a global scale. Furthermore, with the additional funding, Pixxel plans to launch six satellites in 2024 and a further 18 satellites by 2025. [link]

Portfolio company D-Orbit secures €60m from four new contracts

Space logistics and orbital transportation company D-Orbit has secured four contracts under the framework of Italy's National Recovery and Resilience Plan for projects ranging from earth observation to in-orbit servicing for a total of approximately €60 million. The contracts are under the framework of Italy's National Recovery and Resilience Plan (PNRR), including IRIDE (one of Europe's largest space programmes for Earth observation), in-orbit servicing and in-orbit space lab. [link]

Portfolio company AST SpaceMobile confirms 4G capabilities to everyday smartphones directly from space

AST SpaceMobile has once again completed a world first: their celltower in space (called BlueWalker 3 satellite) communicated with smartphones, with no additional hardware or software. The 4G LTE download speed testing, which used AT&T spectrum and Nokia RAN technology, reached initial speeds up to 10.3 Mbps, with further testing of voice calls to AT&T employees. [link]

SpaceTech Sector News

Seraphim Space announces it has supported over 100 SpaceTech companies since 2016, reaching $10bn in value

Seraphim Space continues to build on its position as the most prolific investor in space globally, achieving a world first in supporting over 100 SpaceTech companies in raising over £2.2bn in equity funding and with an aggregate enterprise value of over $10bn since 2016. These companies are driven by some of the world's most visionary and pioneering SpaceTech entrepreneurs taking incredible innovations to market and building world-changing companies that are already underpinning our everyday lives. [link] 

Watch the video link to find out why these companies are so important. [link]

Seraphim Space Accelerator (EU) and Generation Space Accelerator (US) present Investor showcase

The 11^th Space Accelerator cohort concluded in June, with the largest group of startups since the accelerator began and compromised nine innovative early-stage startups, all addressing key opportunities in the SpaceTech ecosystem. The teams work across Earth observation, in-orbit testing and manufacturing, in-orbit refuelling, satellite communications and more. The presentations cemented 13 weeks and 300+ hours of in-depth investment readiness training and relationship building. [link]

King Charles unveils the Astra Carta seal at a Space Sustainability Reception at Buckingham Palace

Seraphim Space Partner Rob Desborough attended a private event at Buckingham Palace where King Charles unveiled the "Astra Carta".  This initiative recognises the unique role that space can play in creating a more sustainable future on Earth and the need for the space industry to consider environmental and sustainability impacts beyond our planet. Seraphim Space attended the unique event, representing as the global leader in space financing amongst a group of astronauts, business leaders, environmentalists and scientists. It was a great opportunity to meet HRH the King and discuss the role Seraphim Space is playing globally in space and sustainability. [link]

Virgin Galactic launches 1^st commercial spaceflight

Virgin Galactic launched the world's first commercial space flight mission on 29 June.^. The Spaceline's first flight, Galactic01, was crewed by researchers from the Italian Air Force and the National Research Council of Italy. The mission will be scientific in nature, with the team looking to carry out microgravity research. [link]

UK Space publishes report of health of the space sector

In 2022, the UK's space sector added £7bn in value to the UK economy, while turnover from space organisations reached £17.5bn.

o  The sector directly employs 48,800 people, including 2,300 apprentices.

o  The output per worker in the sector is 121% higher than the UK average, showcasing the high-value jobs available in the industry.

o  The UK space sector demonstrates wide benefits through a range of public, commercial and consumer uses. [link]

Deloitte releases SpaceTech Sector Report

Deloitte released its SpaceTech report, which reviews the most active and quickly growing segments within the space industry. The report is intended for readers who remain in the dark about the progress that's been made in space over the last decade. [link]

Media & Podcasts

Citywire focuses on SSIT discount

Article by Investment Trust Insider put the spotlight on SSIT [link]

Adventurous Investor Newsletter turns positive on SSIT

David Stevenson shared his views on investment trust discounts  [link]

Seraphim Space launches new brand video [link]

New podcasts: More in the series of interviews with the CEOs of SSIT top 10 portfolio companies

S2 Episode 3: SSIT portfolio company Satellite Vu with CEO Anthony Baker 

In this episode, Anthony Baker, founder and CEO, explains why Satellite Vu is known as the thermometer in the sky. He discusses how the business has been scaled, the opportunities for using infrared detection from space, why customers have already signed option contracts worth $130m and how he's looking to address global challenges such as climate change by detecting where we are wasting energy. [link]

S2 Episode 4: SSIT portfolio company Hawkeye360 with CEO John Serafini

In this episode, John Serafini, CEO of HawkEye 360, talks about why he created the world's largest Radio Frequency satellite constellation, how he has grown the business, what it is trying to achieve and his outlook for the year ahead. [link]

Conferences

Find out where to meet and hear from the Seraphim Space team by following their social media LinkedIn /Twitter

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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 Bank 
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" 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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