UK startup raises $37m for satellite terminal tech
UK startup Isotropic Systems has raised over $37m in a Series B round to bring its multi-link satellite antennas and terminal systems to market.
This brings the total raised to $100m with the product launch planned for 2022.
The round is led by Seraphim Space Investment Trust, the first listed dedicated space tech fund. The round also includes AEI HorizonX, Promus Ventures through its Luxembourg based space investment fund Orbital Ventures, and Firmament Ventures. This is alongside significant support from industry-leading strategic investors including SES and the UK Government.
The funding allows Isotropic to accelerate its production phase in time to support new constellations and satellites launching in GEO, HEO, MEO and LEO orbits from 2022 onwards, and has expanded its workforce by 40 percent over the last five months.
Isotropic Systems’ patented radio frequency optics technology enables the high-performance multi-link antenna to simultaneously connect to multiple satellites in multiple orbits without any compromise in the performance of each link.
“The strong interest we have received from across the industry has given us the confidence to accelerate our growth plans and bring forward the commercialisation of our groundbreaking new terminals, harnessing the potential of the thousands of new satellites being launched across multiple orbits in the year ahead,” said John Finney, CEO and founder of Isotropic.
Read the CEO interview with Finney at: CEO Interview: Isotropic Systems readies for launch
“Isotropic Systems is a prime example of why we looked to list our new fund on the London Stock Exchange. With the Seraphim Space Investment Trust, we now have the financial firepower to double down with conviction on our highest potential investments. With its unparalleled ability to simultaneously connect to satellites in different constellations and different orbits, we believe that Isotropic Systems has the technology that will help unlock massive potential growth within the satellite communications market. We are delighted to be stepping up our support for this exciting business as it enters a critical phase in its development,” said James Bruegger, CIO of Seraphim Space (Manager) LLP, Seraphim Space Investment Trust’s investment manager who joins the board of Isotropic.
“This highlights our commitment to financing the best-of-breed companies we see as potential global leaders in Space Tech whilst offering investors a diversified portfolio of companies in the burgeoning Space Tech sector.”