Information  X 
Enter a valid email address

Seraphim Space I.T. (SSIT)

  Print   

Friday 16 July, 2021

Seraphim Space I.T.

Investment into LeoLabs

RNS Number : 5592F
Seraphim Space Investment Trust PLC
16 July 2021
 

16 July 2021

 

SERAPHIM SPACE INVESTMENT TRUST PLC
(the "Company")

Investment into LeoLabs

 

Seraphim Space Investment Trust (LSE:  SSIT), the world's first listed fund focused on Space Tech, is pleased to announce an investment of $3 million into US-based space mapping company LeoLabs as part of a $65m Series B round.

 

LeoLabs provides the mapping service for Space by deploying a proprietary network of ground-based antennas capable of detecting an object as small as 2cm as far as 1,000km away.  By mapping the skies in real time and monitoring vastly more objects than existing government-operated systems, LeoLabs is aiming for its cloud-based data platform to become the 'air traffic control' system for Space that every rocket launch and every satellite will rely upon to operate safely.

 

This investment represents the first investment by the Company since its successful IPO on the Premium Segment of the London Stock Exchange on Wednesday 14 July.

 

 

Mark Boggett, CEO of Seraphim Space (Manager) LLP, said:

 

"Space debris represents a systematic risk to the modern world. A collision event between one satellite and a piece of 'space junk' could have potentially catastrophic consequences. The current paradigm, which relies on inaccurate and infrequent tracking data provided by the US Air Force, cannot scale to meet the needs of the thousands of new commercial satellites being launched.

 

LeoLabs' proprietary network of ground-based radars is exactly what commercial operators need to operate safely in Low Earth Orbit: real time mapping of the skies from 1,000km away.

 

We backed LeoLabs in its Series A round in 2018 because we believed that it would become the commercial 'air traffic control system' for Space - a huge market opportunity. Since then, the LeoLabs team has doubled their ground-based constellation and we are delighted to make a further investment today to accelerate their roll-out and capability."

 

 

 

- Ends -

 

 

 

 

Media Enquiries

Seraphim Space (Manager) LLP (via SEC Newgate)
Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough  

SEC Newgate (Communications advisers)                                      [email protected]  
Emma Kane / Clotilde Gros / Bob Huxford                                                         +44 (0) 3757 6767
 

Deutsche Bank 
Mark Hankinson / Neil Collingridge / Neil Coleman                                       +44 (0) 20 754 58000
 

J.P. Morgan Cazenove
William Simmonds / Jérémie Birnbaum / Rupert Budge  +44 (0) 20 7742 4000
 

Ocorian Administration (UK) Limited  [email protected]  

Eimear Coleman / Peter Davidson                                                                         +44 28 9078 5880

 

 

 

Notes to Editors:

About Seraphim Space Investment Trust

Seraphim Space Investment Trust is the world's first listed fund focused on Space Tech. The Company seeks exposure predominantly to early and growth stage private financed Space Tech 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 listed on the Premium Segment of the London Stock Exchange on 14 July 2021, following an oversubscribed IPO raising £178.4 million.  It currently has exposure to 15 Tech Space companies and has agreed to acquire investments in a further four companies by 31 December 2021 with a current estimated aggregate value of £70 million (subject to variation ahead of the acquisitions being completed) and issue shares with a corresponding value (at the IPO price) to the selling investors.

Further information is available at:  www.seraphim.vc

Further information on LeoLabs is available at:  www.leolabs.space  

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PFUDKABQNBKDCOD

a d v e r t i s e m e n t