SpaceTech Sector Newsletter October 2023

Seraphim Space Investment Trust PLC

01 November 2023

 

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

SpaceTech Sector Newsletter - October 2023

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 October 2023. 

SpaceTech Market

Seraphim Space releases SpaceTech VC Index Q3 2023

For the past six years, Seraphim Space has been producing a quarterly report that tracks the ebbs and flows of private investments within the dynamic global space sector. As shown in the Q3 2023 report, the trajectory of the space industry continues its resurgence after a challenging 2022. Total investments skyrocketed by 39% in comparison to the previous quarter, with Q3 recording $1.6bn private capital invested, a notable jump from Q2's $1.16bn, contributing to a total investment of $5.6bn over the year ended 30 September 2023.

One of the most remarkable shifts observed in Q3 2023 was the significant redistribution of investments between early-stage and late-stage ventures. 82% of the investments flowed into late-stage businesses, marking a substantial 20% increase from the previous quarter. This transformation underscores the dynamic nature of the space sector, with opportunities and innovation paving the way for growth. [Read more]

SSIT Portfolio Update

ICEYE is the first partner for ESA's first Civil Security from Space Programme to revolutionise disaster management

ICEYE, renowned for its expertise in persistent monitoring through radar imaging satellites and natural catastrophe solutions, has earned the distinction of being selected as a key partner by the European Space Agency (ESA) for the groundbreaking Civil Security from Space (CSS) Programme. This collaboration is a significant leap forward in revolutionising disaster and crisis management from the vantage point of space. This noteworthy achievement also marks the inaugural CSS partnership contract within the CSS Programme, with a focus on developing an advanced suite of natural catastrophe monitoring services. [Read more]

Astroscale awarded a grant up to $80m by the Japanese Government to inspect a large defunct satellite in orbit

Astroscale has garnered attention as the Japan Ministry of Education, Culture, Sports, Science and Technology has awarded it a grant of up to $80m. This grant will support Astroscale's mission to develop an on-orbit inspection demonstration. The mission's primary objective is to capture images and diagnose a large, defunct satellite located in space, highlighting the organisation's commitment to pioneering space technologies. [Read more]

HawkEye 360 adds Lockheed Martin increasing D series to $68m

In a significant development, HawkEye 360, a leading commercial operator of remote-sensing satellites, recently increased its Series D-1 investment round to $68m. This infusion of capital boosts their total funds raised to $378m. Moreover, this financial collaboration includes a strategic cooperative agreement with Lockheed Martin, aiming to develop cutting-edge solutions for both government and commercial clients. These innovations are set to harness the power of HawkEye 360's radio-frequency data driven insights. [Read more]

UK company SatVu maps heat variations across Earth

The SatVu team has achieved a historic milestone in the field of space technology and climate monitoring, introducing a groundbreaking thermal imaging satellite, HotSat-1, equipped with the highest resolution commercial thermal sensor in orbit. This remarkable technology enables the satellite to pinpoint hot and cold features as minuscule as 3.5 meters in diameter, an advancement with broad applications in defence and climate-related markets. [Read more]

Northrup Grumman to join Voyager Space on its commercial space station project

In a strategic shift, Northrop Grumman has decided to join forces with Seraphim's portfolio company, Voyager Space, for the development of a commercial space station. This collaboration marks an important step forward as both companies had independently been working on their space station concepts funded by NASA Space Act Agreements. This cooperative endeavour is designed to enhance the development of commercial successors to the International Space Station, exemplifying the industry's potential. [Read more]

Space Sector News

FCC issued the first-ever space debris fine to DISH

In a remarkable turn of events, the Federal Communications Commission has issued its inaugural space debris enforcement fine, amounting to $150,000, to DISH, which failed to properly de-orbit its EchoStar-7 satellite. This historic settlement underscores the FCC's robust enforcement authority and its capability to enforce pivotal space debris regulations. The fine is a significant development in ensuring the responsible and safe management of space activities. [Read more]

Four UK astronauts could soon be heading into orbit on an all-British mission

The UK Space Agency has made a landmark agreement by signing a memorandum of understanding (MOU) with Houston-based Axiom, which paves the way for four UK astronauts to participate in an all-British mission into orbit. This mission aligns with the UK government's National Space Strategy and the UK Science and Technology Framework, offering an exciting opportunity for UK space exploration. [Read more]

Seraphim Space, the London Stock Exchange and the Government Department of Science, Innovation and Technology come together to make the UK a global centre for SpaceTech financing

Seraphim Space, in collaboration with the London Stock Exchange and the Government Department of Science, Innovation, and Technology, initiated a collaborative effort to establish the UK as a global hub for SpaceTech financing. This endeavour brought together senior government officials, leading banks, institutional investors and SpaceTech CEOs to discuss current investment challenges and foster growth in the UK space sector. The discussions aimed to propel the UK space economy into a leading position on the world stage. [Read more]

Seraphim Space Accelerator and Generation Space Accelerator launches Mission 12

Seraphim Space announced the commencement of its 12^th program in collaboration with Generation Space Accelerator. Since its inception in 2018, the program has been instrumental in helping 91 startups access essential equity funding. The latest cohort of Mission 12 joins a highly regarded list of SpaceTech companies in the accelerator program, with an impressive 86% of previous participants successfully raising funds within a year of graduation. Operating across three continents, including London (Europe), San Francisco (US), and recently, Singapore (Asia ex-China), this accelerator program continues to drive innovation in the global SpaceTech industry. [Read more]

Media & Podcasts

Explore SpaceTech insights and dive deeper into the latest developments in the SpaceTech industry with Seraphim Space's range of video webinars and podcasts:

·           Seraphim SpaceTech VC Index Q3 2023 explained: Join Dr. Maureen Haverty and Seraphim investor Zainab Qasim as they discuss the funding and acquisition trends in the SpaceTech industry for the previous quarter. Get valuable insights into current trends, M&A activity, deals, geographic analysis and data on all stages in the space startup ecosystem. [Watch here]

·           SSIT's Capital Markets Day: Watch the full event on video, featuring interactive sessions and panels with CEOs from seven of the Company's top ten portfolio companies. Gain unique insights into the SpaceTech sector and learn about their respective businesses.[Watch here]  

·           Seraphim portfolio CEOs profile their businesses: Tune into the Seraphim Space podcast series to hear firsthand from the founders of leading SpaceTech companies. Discover the background of these businesses and receive up-to-date information on their expansion, customer adoption and outlook for the SpaceTech sector. All top 10 SSIT portfolio companies are available in the series.[Listen Here]

·           Why space, why now? Brendan Rosseau from Harvard Business School explains the rapidly evolving commercial space market and makes a compelling case for every company to develop a space strategy to participate in the disruptive changes already underway. [Watch here]

Conferences

·           SuperVenture North America: CEO Mark Boggett will be attending on 8 November 2023 in New York. [link]

·           Founders Forum: CEO Mark Boggett will be speaking on 8 November 2023 in New York. [link]

·           NSITE: Managing Partner Rob Desborough will be attending on 8 November 2023 in Manchester. [link]

·           Dubai Airshow: CEO Mark Boggett will be speaking on 15 November 2023 in Dubai. [link]

·           SpaceTech Expo: Partner Andre Ronsoehr will be speaking on 14 November 2023 in Germany. [link]

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. [link]

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.

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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 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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