Fundraising continues internationally for newspace companies

by | May 31, 2022 | Finance, Satellites, Seradata News

Astrocast/Hiber

Swiss satellite-IoT provider Astrocast SA revealed plans on 30 May to purchase European compatriot and fellow IoT services provider Hiber Global, of the Netherlands. Astrocast is currently working towards a second IPO, on the Euronext Growth Paris exchange. It is already listed on Euronext Growth Oslo. Astrocast is hoping that this second listing will help solve its liquidity issues. With a target of EUR€70 million this IPO is intended to support the business, product development, and the launch of further satellites this year and in 2023.  

The proposed Hiber purchase is conditional on a successful Paris IPO according to Astrocast. If it proceeds the transaction will consist of Astrocast acquiring all of Hiber’s shares, in exchange for the issuance of new Astrocast shares worth 16.5 per cent of the pre Paris-IPO capital. Additionally, Hiber has invested EUR€10.45 million into the Paris IPO. 

 

Vyoma

Vyoma is a German start-up which closed its pre-seed and seed rounds last year and is in the process of raising its Series A round of financing. The company intends to launch two prototype microsatellites in 2023 to provide an in-orbit, space object tracking service. Vyoma is targeting an ability to track 1 cm sized objects and hopefully this data can be sold to enhance space situational awareness (SSA) efforts by both operators and national governments. 

However, the initial units will only be able to observe objects in the 5-30 cm range. It will require improvement of the sensors along with a larger fleet to enable consistent detection of smaller objects.

 

NaraSpace

South Korean start-up NaraSpace Technology reported on 3 May that it had raised KRW10 billion (US$7.88 million) in a Series A round of fundraising. The company intends to launch its first electro-optical remote sensing satellites in 2023. These satellites known as Observer-1A and Observer-1B and will be capable of imagery with a resolution of 1.5 metres per pixel. Reportedly the satellites are set to be launched on SpaceX Falcon 9 missions in each half of 2023. 

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