TIDMSSIT
Seraphim Space Investment Trust PLC
20 March 2023
SERAPHIM SPACE INVESTMENT TRUST PLC
SpaceTech Sector Newsletter - February 2023
Seraphim Space Investment Trust plc (LSE: SSIT), the world's
first listed S paceTech 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 February 2023.
SSIT Portfolio Update
Astroscale raises $76 million, continuing to lead the growing
on-orbit servicing sector
Astroscale successfully raised $76 million in its recent round
of funding from new investors , including Mitsubishi Electric,
Yusaku Maezawa, Mitsubishi UFJ Bank, Mitsubishi Corporation and the
Development Bank of Japan. Additional funding means Astroscale has
raised a total amount of more than $376 million since its
establishment, demonstrating strong investor confidence in its
stability, success and market leadership in the
on-orbit services sector, despite the extremely challenging global economic climate. [link]
Voyager Space raises $80m
Voyager announced the completion of its funding round to
progress the development of its space station, Starlab. Voyager was
awarded a $160 million Space Act Agreement from NASA in December
2021 to create Starlab, a continuously crewed space station to
replace the International Space Station. Starlab is designed to
serve as the home for the first science park in space, where
scientists and industry experts can share findings, collaborate,
and use new technologies to advance both scientific and commercial
endeavours . [link]
Satellite Vu secures GBP81m commitment to access 'The World's
Thermometer'
Satellite Vu, the UK space and climate tech company , has
secured GBP81 million of purchase options from 30 companies for
their Early Access Programme (EAP). Using thermal data, Satellite
Vu can provide a pattern of life thermal index of commercial and
residential buildings. Combined with energy consumption and other
information , Satellite Vu's thermal imagery will provide these
businesses with indications of how efficient their infrastructure
structure is , identify where heat is being wasted and guide where
energy improvement retrofit investments will have the biggest
impact. Satellite Vu is due to launch its first spacecraft in June
2023. [link]
Arqit completes $20m registered direct offering
Having entered into a definitive securities purchase agreement
with several institutional investors , Arqit, a NASDAQ-listed
quantum encryption technology company, completed the sale and
purchase of 10 million shares at $2.00 a share attached with rights
to buy 7.5 million warrants at the same price. The proceeds will be
used for enhancing international customer service capabilities in
support of the growth of its recently announced channel
partnerships. The closing piece of the Arqit shares on 28 February
2023 was $1.24. SSIT previously reduced its exposure to Arqit in
November 2022, selling 20% of holding at $8.48 . [link]
Pixxel listed among Fast Company's 10 most innovative space
companies
Fast Company published its 10 most innovative space companies,
among which is Pixxel , an Indian space data company . Pixxel was
featured in this list for "expanding the spectrum of earth-imaging
satellites". Its satellites capture images in more than 150 bands
of colour from the visible and infrared spectrums at a resolution
of 10 meters per pixel. This exceeds that of hyperspectral
satellites launched by NASA and the European Space Agency.
[link]
The potential of ICEYE: How SAR technology helps insurers stay
ahead of natural disasters
An article by Barbara Peterfi from ICEYE explains how Synthetic
Aperture Radar (SAR) technology is helping insurers stay ahead of
natural disasters. SAR technology offers new levels of insight into
how catastrophes manifest worldwide. ICEYE is a leading provider of
SAR technology, with live capabilities for flood and wildfire.
[link]
Podcasts & Media
-- Seraphim Space published episode three of the Generation
Space Podcast, entitled 'Building a digital space infrastructure in
the sky'. Mark Boggett and James Bruegger , CEO and CIO,
respectively, of Seraphim Space, set out the Seraphim Space thesis
for ' Why space, why now ?'. [link]
-- Dr Maureen Haverty , Seraphim Space Vice President, was
quoted in The Next Web (TNW) discussing the space start-up scene in
Europe. [link]
-- Trisha Saxena , Seraphim Space investment analyst, published
an article on Medium setting out how space data is driving change
across the entire insurance industry value chain . [ link ]
-- Reuters covered the Generation Space Accelerator in San Francisco . [link]
-- Dr Maureen Haverty and Trisha Saxena discussed some of the
major trends revealed in Seraphim Space's Q4 space index .
[link]
Conferences
-- Dr Maureen Haverty spoke at the 'Health from Space'
conference to explore how research, development and manufacturing
in space will assist pharmaceutical, cosmetics, medical and
biotechnology industries .
-- Rob Desborough spoke at the Global Space and Technology Convention in Singapore.
SSIT Announcements Post-February 2023
Interim results
SSIT announced its interim results for the six months ended 31
December 2023. [ link ]
Statement on Silicon Valley Bank
In relation to the recent events concerning Silicon Valley Bank
("SVB"), SSIT confirmed that neither it nor the Manager bank with
SVB and that portfolio companies use SVB as their primary banking
provider. The Company does not anticipate that the recent SVB
events will have any impact on the Company's NAV. The Manager will
continue to closely monitor the situation and the Company will
update the market as appropriate. [ 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 (0) 28 9078 5880
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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