TAMPA, Fla. — British investment firm Seraphim Space announced May 4 the nine space startups collaborating in its latest accelerator program, which goals to assist them raise funds despite a difficult macroeconomic outlook.
Firms joining Seraphim’s eleventh accelerator are essentially the most geographically diverse in this system’s five-year history, the investor said, starting from a Lithuanian optical communications specialist to a satellite startup specializing in improving connectivity across Africa.
The 11-week program kicked off April 4 and is designed to assist young businesses refine their corporate pitches, connect with mentors, and ultimately broaden Seraphim’s pool of potential investments.
In accordance with Seraphim, this system has thus far helped 81 startups raise greater than $270 million from 80 enterprise capitalists.
Recent funding successes from previous accelerator participants include $10 million raised by German space-based water monitoring startup Constellr in November, and the $5 million secured by Array Labs in October for a constellation that will gather global 3D imagery.
Seraphim participated in each fundraising rounds through its publicly listed Seraphim Space Investment Trust, together with other investors.
Members of Seraphim’s eleventh bi-annual accelerator program, which is being run jointly by its U.K.-based Seraphim Space Accelerator and Generation Space, its U.S. arm based in San Francisco, are:
- Astrolight (Lithuania), which is developing optical communications technology for low Earth orbit satellites.
- Spacecraft docking technology developer Kurs Orbital (Italy).
- GalaxEye (India), which is constructing a multi-sensor imaging satellite for Earth remark.
- Allocation Space (U.S.), a financial services firm developing trading tools for the space industry.
- EarthEye (Singapore), which is developing a web based marketplace for ordering geospatial data and insights.
- Amini (U.S.), a startup with plans for an Africa-focused constellation for connecting distant Web of Things (IoT) devices.
- Orbital Composites (U.S.), a 3D-printing specialist aiming to enhance satellite payload capability.
- In-space refueling station developer SPACEIUM (U.S.)
- Virtus Solis (U.S.), which is developing a industrial space-based solar energy system.
Early-stage space investments declined last 12 months as investors became increasingly conservative amid high inflation, rising rates of interest, supply chain issues, and other economic pressures.
Nonetheless, Seraphim recently said it sees signs of rising investor confidence as growth capital returns to the industry.
“Despite a turbulent macroeconomic outlook, the space sector stays resilient,” Seraphim managing partner Rob Desborough said in a news release announcing its latest accelerator program.
Along with the UK and the USA, Seraphim is searching for to determine a presence in Singapore to give attention to the Asia Pacific region.