A developer of transformational broadband terminal technologies has raised £27 million in fresh funding from industry and venture capital investors.
SpaceTech Isotropic Systems said the equity financing round fully funds the development of its solid state multi-link antennas through to product launch in 2022.
The Reading startup’s patented radio frequency optics technology connects to multiple satellites in multiple orbits without any compromise in the performance of each link, which it describes as a ‘game-changer’ for broadband connectivity.
With multiple space constellations being launched by organisations including OneWeb, Inmarsat, Intelsat, SpaceX, Amazon, SES and Telesat, the funding means Isotropic should be in position to take full advantage of the fast-evolving global satellite ecosystem.
It says this will lead to ‘unprecedented’ connectivity across a broad range of markets, including government, defence, maritime, enterprise and aerospace.
The round is led by listed SpaceTech fund Seraphim Space Investment Trust in the first significant investment since its IPO on the London Stock Exchange in July.
The round also included participation from leading strategic and deep-tech VC investors including AEI HorizonX, Promus Ventures through its Luxembourg based space investment fund Orbital Ventures, and Firmament Ventures.
“We are delighted to announce this new funding today, which will bring our game-changing technology to reality within the next 12 months,” said founder and CEO John Finney.
“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.
“Seraphim Space Investment Trust is invested in many sector leaders within the space ecosystem that have the potential to dominate globally, several of whom are already valued at more than $1 billion.”
James Bruegger, CIO of Seraphim Space Investment Trust’s investment manager, will join the company’s board.
“Isotropic Systems is a prime example of why we looked to list our new fund on the London Stock Exchange,” he said. “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.”
Brian Schettler, partner and head of AEI HorizonX, said: “Isotropic Systems unlocks the industry’s ability to provide connectivity to the wave of next generation high-throughput satellites given Isotropic’s dramatic improvements in terminal capabilities at lower costs.
“The ability to affordably bring seamless and simultaneous connectivity to these new satellites across multiple orbits with different frequencies will be revolutionary, as well as critical to meet the growing demand for broadband data across the globe.
“We are pleased that our support will help enable this to become a reality.”