TIDMSSIT
Seraphim Space Investment Trust PLC
04 September 2023
SERAPHIM SPACE INVESTMENT TRUST PLC
(the "Company" or "SSIT")
SpaceTech Sector Newsletter - August 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 August 2023.
SSIT Portfolio Update
HawkEye 360 is helping America keep tabs on China's maritime
manoeuvres
The US and its allies are using new technology to track China's
military activity and illegal fishing, provided by HawkEye 360.
HawkEye 360 operates a constellation of 21 low Earth orbit (LEO)
satellites monitoring the radio frequency (RF) signals from
navigation, security and communication equipment that ships use
even if automatic identification system (AIS) transponders are
deactivated. These signals are used to identify and locate ships to
monitor bad actors. [link]
Lockheed Martin Invests in Xona Space's $15m funding round
Xona has secured another $15m in financing in an oversubscribed
funding round, bringing its total funding raise to over $25m. The
company, which is developing navigation technologies from LEO,
revealed the round was led by Spark Ventures, and supported by
other high profile investors including Lockheed Martin. The new
round will help Xona double its team to 60 employees ahead of
deploying its second prototype satellite next year. [link]
Voyager Space and Airbus create a commercial space station joint
venture
In a ground-breaking partnership, Voyager Space and Airbus
Defence and Space have revealed plans to establish a transatlantic
joint venture to create and operate Starlab, a commercial space
station intended to succeed the iconic International Space Station
(ISS). [link]
Spire Global secures NASA contract renewal for Earth observation
data
Spire Global has secured the renewal of a significant contract
with NASA's Commercial Smallsat Data Acquisition (CSDA) Program.
This renewal amounts to $6.5m over the course of 12 months, adding
further growth to its $100m annual recurring revenue, The programme
will progress Spire's ambitions to use Earth observation data to
tackle crucial climate change issues. [link]
SpaceTech Sector News
India's Chandrayaan-3 spacecraft lands on the moon
An Indian spacecraft became the first to land on the unexplored
south pole of the moon in a mission seen as crucial to lunar
exploration and India's standing as a space power. Rough terrain
makes a south pole landing difficult, but the region's ice could
supply fuel, oxygen and drinking water for future missions to the
moon and beyond. This is a big step forward in space exploration
and a testament to the impressive progress made by India in the
field of science and technology. [link]
KKR pays a premium for space company OHB
Private equity giant KKR swept into the market acquiring a
minority stake in German space engineering company OHB, paying a
significant premium. Last quarter Advent also paid a significant
premium for Earth observation leader Maxar. These are two of the
leading brand name private equity (PE) investors who are making a
statement about their view on the outlook for the space domain over
the next five years. Whilst they have endless choices to acquire
and invest into cut-priced businesses in other sectors, they are
focused on the long-term growth features of the space domain. This
reads across to the recent investment by BlackRock into Seraphim
Space growth fund portfolio company HawkEye 360. BlackRock led the
up round to access the premier player in the RF sector. This bodes
well for the space domain and Seraphim Space expects to see a
growing stream of other PE firms making the same play. [ link ]
The Seraphim Space Accelerator wins UK Space Agency bilateral
funding
The UK Space Agency announced the recipients to receive the
first phase of its GBP20 million International Bilateral Fund
investments, which will help UK organisations link up with the US,
Canada, Australia, Japan, India, Singapore, South Africa and more
to form collaborations that will progress space research and
catalyse investment in new technologies. The Seraphim Space
Accelerator won this grant as part of its recent bilateral fund to
expand its presence in Singapore and the APAC Region. [link]
Space market reports
The United Nations' latest report [ link ] looks at how space
will help support a world with a population of 9bn people and the
ESPI (European Space Policy Institute) Space Venture 2022 report [
link ] spells out the record-breaking year for Europe, with more
than EUR1bn invested in European space start-ups distributed across
112 deals.
Media & Podcasts
Video webinar
-- The Seraphim SpaceTech VC Index Q2 2023 Explained: The
Seraphim Space team explain key highlights and trends in the global
space private investment domain and discuss recent M&A
activity. [link]
Podcasts: Episodes 6 and 7 of the Generation Space Podcast
'Portfolio Spotlight'
-- S2 Episode 6: SSIT portfolio company Altitude Angel with
Founder & CEO Richard Parker: The series of interviews with the
top 10 portfolio companies of SSIT continues with Richard Parker,
CEO of Altitude Angel. Altitude Angel's unique technologies help
unlock the potential of drones to revolutionise businesses and
transform lives by providing the digital infrastructure required to
deliver air traffic control for drones. [link]
-- S2 Episode 7: SSIT portfolio company ALL.SPACE with Founder
& CEO John Finney: In this episode, the Manager talks to John
Finney, the CEO and Founder, about ALL.SPACE's revolutionary next
generation smart antenna's capability of linking with any
satellites, on any network, in any orbits - all simultaneously. He
talks about how this ground-breaking software-defined service
enables connectively resilience on any mobile platform - from
planes to boats and trains. [link]
Conference
-- World Satellite Business Week, 11 - 15 September 2023 in
Paris : Mark Boggett, CEO of Seraphim Space, is on the SpaceTech
startup judging panel.
Find out where to meet and hear from Seraphim Space's team by
following its social media , LinkedIn / Twitter .
Sign up to receive SSIT's monthly newsletter direct 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.
- Ends -
Media Enquiries
Seraphim Space Manager LLP (via SEC Newgate)
Mark Boggett, CEO / James Bruegger, CIO
/ Rob Desborough
SEC Newgate (Communications advisers) seraphim@secnewgate.co.uk
Emma Kane / Clotilde Gros / George Esmond +44 (0) 20 3757 6767
Deutsche Bank
Mark Hankinson / Gavin Deane / Neil Coleman +44 (0) 20 7545 8000
J.P. Morgan Cazenove
William Simmonds / Jérémie
Birnbaum / Rupert Budge +44 (0) 20 7742 4000
Ocorian Administration (UK) Limited seraphimteam@ocorian.com
Lorna Zimny +44 7387 971915
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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