The Accelerator reaches milestone figure with companies raising over $500m in funding as investor appetite grows
London and San Francisco, 7th October 2024: Seraphim Space, known as Generation Space in the U.S., which runs the leading, dedicated accelerator for startups in the global SpaceTech industry, announces the companies participating in Mission 14.
Since 2018 the accelerator has been working with early-stage SpaceTech companies on a global scale. To date, supporting 109 companies across 30 countries, helping them raise over $540 million in funding for the first time. Seraphim remains dedicated to finding and supporting early-stage companies through every stage of their journey. There have been many success stories from the alumni over the years, recently Xona Space Systems, from Mission 3, who earlier this year raised a $19m Series A from new and current investors including Seraphim.
This year the space sector has continued to demonstrate robust growth and resilience evidenced by consecutive quarters of investment recovery. Q2 2024 saw $2.41bn invested, bringing the total investment over the past twelve months to $8.5bn. The growth in investment this quarter was primarily driven by a large volume of deals across from series A to series C, indicating stronger investor confidence in early-stage SpaceTech ventures. The Accelerator’s track record and unique position at the epicentre of the ‘New Space’ ecosystem continues to attract early-stage startups from all over the world – with this year’s cohort being scouted from 7 countries. For the first time, companies from Saudi Arabia, Chile, and Turkey are joining the cohort, demonstrating SpaceTech’s global significance and growth. Mission 14 participants focus on key areas like data analytics, earth observation, and advanced manufacturing. By leveraging insights from space, these startups are driving advancements that will positively impact life on Earth.
Seraphim Space continues to strengthen its collaboration with leading corporate partners and industry bodies, including Dentons, ESA, JSAT, NEC, NSIFF, Telespazio, Thales, UK Space Agency and KPMG., who have been instrumental in supporting this cohort. Acquora earned a place on the programme as a ‘#TeC Fellow’ after winning the Telespazio’s Technology Contest.
Alexander Holt, Managing Director, Seraphim Space Enterprise: “The Mission 14 cohort comes at an exciting time for global space innovation. Space investment has remained strong despite a challenging funding environment for the broader tech sector. In the last 12 months, over $8.5 billion has been invested into space-related startups, compared with $5.1 billion over the same period a year ago. Over the last six years, our accelerator alumni have secured investments of more than $540 million, and this new cohort will bring world-changing ideas to inception, helping shape the future of the space economy.”
Joe Cassidy, Seraphim Client Lead Partner, and Jonathon Gill, Global & UK Head of Industrial Manufacturing & Defence at KPMG: “The Seraphim Accelerator programme invests in pioneering entrepreneurial SpaceTech businesses to drive pace and focus in a sector that is a key strategic industrial and technological asset for the UK. We at KPMG are extremely proud of our deepening relationship with Seraphim and look forward to supporting pioneering businesses to scale up and shoot for the stars. Digital infrastructure in space supports human life on earth, from communication on smartphones, the transition to cashless societies, autonomous mobility, and smart cities. Space-led technology is disrupting every industry on the planet including defence, insurance, agriculture, financial services, pharmaceuticals, education, healthcare, and manufacturing to name a few. As well as presenting opportunities for advancement for humanity, space is also a highly congested and contested environment with nations competing with one another.“
ENDS
Media enquiries
For further information, or to arrange to speak to Seraphim Space Accelerator (UK) or Generation Space Accelerator (U.S) for other enquiries please contact:
Seraphim Space
E: ellie@seraphim.vc
About Seraphim Space Accelerator and Generation Space Accelerator:
The Seraphim Space Accelerator (UK) and Generation Space Accelerator (USA) are the world’s leading accelerators focused on space technology, providing support, networks, and resources to scale up and become investment-ready. Working with 230 corporates, government agencies and over 500 investors worldwide. Since the conclusion of the previous 13 Missions, 109 alumni have raised $540 in investment.
About Seraphim Space Investment Trust plc
Seraphim Space Investment Trust plc (“SSIT” or the “Company”) is the world’s first listed fund focused on SpaceTech. The Company seeks exposure predominantly to 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 Generation Space
Generation Space LLC is the U.S. subsidiary of Seraphim Space Manager, LLP, and is responsible for its U.S. activities. Further information is available at: www.generation.space.
