Isotropic Systems has announced that it has raised over $37 million in an equity financing round, which fully funds the development of its game-changing multi-link antennas through to product launch in 2022.
The round is led by Seraphim Space Investment Trust PLC – the world’s first listed space tech fund – 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 venture capital investors including AEI HorizonX, Promus Ventures through its Luxembourg based space investment fund Orbital Ventures, and Firmament Ventures.
Concurrently, Isotropic Systems continues to attract significant support from industry-leading strategic investors including SES and the UK Government. The continued support from existing investors was driven by Isotropic Systems’ significant progress into the mature stages of product development, providing accelerated funding to achieve upcoming pivotal milestones and fully fund Isotropic through the commercial launch of its first product line in 2022.
As a result, Isotropic Systems has accelerated its production phase in time to support new constellations and satellites launching in GEO, HEO, MEO and LEO orbits from 2022 onwards, and has expanded its workforce by 40% over the last five months.
Isotropic Systems’ patented radio frequency optics technology enables the high-performance multi-link antenna to simultaneously connect to multiple satellites in multiple orbits without any compromise in the performance of each link. This industry first unlocks the global satellite ecosystem for unprecedented connectivity across a broad range of markets, including government, defence, maritime, enterprise, and aerospace. With multiple new space constellations being launched by organisations including OneWeb, Inmarsat, Intelsat, SpaceX, Amazon, SES and Telesat, innovation in space needs to be matched by innovation on the ground, sea and in the air. Isotropic Systems was recently recognised by its inclusion in Lazard’s T100 Index, reflecting its potential for significant growth and sector disruption.
John Finney, Isotropic Systems Founder and CEO, said: “We are delighted to announce this new funding today, which will bring our game-changing technology to reality within the next 12 months. 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. We are delighted that they have led this fundraising round and look forward to James Bruegger joining our Board.”
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Post written by: Matt Brown
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