LONDON, Sept. 27, 2021 /PRNewswire/ -- Isotropic Systems, a leading developer of transformational broadband terminal technologies, announces 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."
James Bruegger, CIO of Seraphim Space (Manager) LLP, Seraphim Space Investment Trust's investment manager, said: "Isotropic Systems is a prime example of why we looked to list our new fund on the London Stock Exchange. With the Seraphim Space Investment Trust, we now have the financial firepower to double down with conviction on our highest potential investments. With its unparalleled ability to simultaneously connect to satellites in different constellations and different orbits, we believe that Isotropic Systems has the technology that will help unlock massive potential growth within the satellite communications market. We are delighted to be stepping up our support for this exciting business as it enters a critical phase in its development.
"This highlights our commitment to financing the best-of-breed companies we see as potential global leaders in Space Tech whilst offering investors a diversified portfolio of companies in the burgeoning Space Tech sector."
Brian Schettler, Partner and Head of AEI HorizonX, said: "Isotropic Systems unlocks the industry's ability to provide connectivity to the wave of next generation high-throughput satellites given Isotropic's dramatic improvements in terminal capabilities at lower costs. The ability to affordably bring seamless and simultaneous connectivity to these new satellites across multiple orbits with different frequencies will be revolutionary, as well as critical to meet the growing demand for broadband data across the globe. We are pleased that our support will help enable this to become a reality."
About Isotropic Systems
With offices in the UK and U.S., Isotropic Systems is developing the world's first multi-service, high-bandwidth, low power, fully integrated high throughput terminals designed to support the satellite industry to 'reach beyond' traditional markets and acquire new customers with a full suite of high throughput services. The company's team of industry experts and scientists has pioneered several firsts in satellite terminal design resulting in a line of terminals that are customizable to meet the performance, cost and power requirements of countless applications – from the most complex government defense systems and mobile backhaul solutions capable of extending 5G, to next-gen connected experiences aboard commercial airliners, cruise ships, offshore rigs, and even small fishing boats at sea.
Investors in Isotropic Systems include Seraphim Space Investment Trust, AEI HorizonX, Promus Ventures through its Luxembourg based space investment fund, Orbital Ventures, SES, Firmament Ventures, UK government's Future Fund, Space Angels and family office investors such as Waterlow Management Limited.
Further information is available at www.isotropicsystems.com
About Seraphim Space Investment Trust PLC
Seraphim Space Investment Trust is the world's first listed fund focused on Space Tech. The Company seeks exposure predominantly to early and growth stage private financed Space Tech 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 listed on the Premium Segment of the London Stock Exchange on 14 July 2021, following an oversubscribed IPO raising £178.4 million. It currently has exposure to 17 Tech Space companies and has agreed to acquire investments in a further two companies by 31 December 2021.
Seraphim Space Investment Trust is managed by Seraphim Space (Manager) LLP.
Further information is available at: www.seraphim.vc
About AEI HorizonX
AEI HorizonX was formed as the corporate venture capital arm of Boeing in 2017, and is now managed by AE Industrial Partners, a private equity firm specializing in aerospace, defense & government services, space, power generation, and specialty industrial markets. AEI HorizonX has been an active participant in venture capital within its core strategic areas of focus, investing in more than 40 startups globally and building countless relationships and partnerships across the aerospace, technology and investing ecosystem. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment. Learn more at www.aeroequity.com.
SOURCE Isotropic Systems