TIDMSSIT
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.
- End -
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 Numis
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 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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END
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