We are delighted to confirm Seraphim Space’s participation in Spire’s $40m Series D funding round, bringing on-board a range of new investors, including Itochu and GPO. The funding will be used to support the company’s work in developing new analytics products based on the range of data its constellation of cubesats collect. In addition, Spire secured funding from Scottish Enterprise amounting to almost £15 million. The funding will enable Spire to move into a new 40,000sq ft premises at Glasgow’s Skypark facility and increase its local workforce from 60 to 320 over the next five years. This is an excellent example of how Government and the financial/venture ecosystem works together to scale-up space businesses with significant presence and opportunity for the UK economy.
Spire has launched more than 100 cubesats and currently has 80 satellites in operation today. Instruments on-board the satellites work together to bring about data and analytics crucial for weather predictions and forecasting, and to track aircraft and ships across the globe.
Spire’s CEO and Co-Founder, Peter Platzer, told Space News: “What we’ve been focused on is creating a constellation and generating a large amount of data,” Platzer said. “We crossed a number of really important thresholds regarding the amount and quality of the data that we produce. Now we’re going into the next phase of taking the data and bundling it into analytics products that deliver knowledge to the customer.”
Seraphim looks forward to supporting Spire’s next stages of growth as the world’s largest venture fund dedicated to investing in space companies.
“We crossed a number of really important thresholds in regards to the amount and quality of the data that we produce. Now we’re going into the next phase of taking the data and bundling it into analytics products that deliver knowledge to the customer.”