RCS - Seraphim Space I.T. - SpaceTech Sector Newsletter – April 2024

Seraphim Space Investment TrustAnnouncement

02/05/2024 07:00

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RNS Number : 8906M  Seraphim Space Investment Trust PLC  02 May 2024

SERAPHIM SPACE INVESTMENT TRUST PLC
(the "Company" or "SSIT")

SpaceTech Sector Newsletter - April 2024

Seraphim Space Investment Trust plc (LSE: SSIT), the world's first listed
SpaceTech investment company, publishes its monthly RNS Reach newsletter to
provide updates, based on publicly available information, on the Company's
portfolio investments, its Manager (Seraphim Space Manager LLP (the "Manager"
or "Seraphim Space")) and the wider SpaceTech market. The following newsletter
covers April 2024.

SSIT Coverage

Third party research from Edison - SpaceTech's lift off moment may be now

Third-party research by      Edison Group on SSIT: Several key holdings
funded to break even. [Read more]
(https://investors.seraphim.vc/wp-content/uploads/2024/04/Edison-SSIT-Apr-2024.pdf)

Shares Magazine editorial -  The business of space has arrived impacting our
everyday lives for the better

In a piece written for Shares Magazine, SSIT shares how space is the new
industrial revolution - transforming all industries and addressing humanity's
biggest challenges from climate change to global security, creating a better
earth. [Read more]
(https://investors.seraphim.vc/wp-content/uploads/2024/04/Shares-Magazine-Editorial.pdf)

Portfolio Update

ICEYE raises an oversubscribed $93m growth funding round

Finnish satellite company ICEYE, the global leader in synthetic aperture radar
(SAR) satellite operations for earth observation, persistent monitoring and
natural catastrophe solutions, announced the completion of an oversubscribed
$93m growth funding round. ICEYE will use the funding to continue expanding
the world's largest constellation of radar satellites and develop new products
and services. Finnish sovereign wealth fund Solidium Oy led the round, with
participation from Move Capital Fund I, Blackwells Capital, Christo Georgiev
and existing investors. ICEYE continues to observe significant growth and
finished 2023 with over $100m in revenue.
(https://www.iceye.com/press/press-releases/iceye-raises-oversubscribed-growth-funding-round-to-expand-global-sar-leadership)
(https://www.iceye.com/press/press-releases/iceye-raises-oversubscribed-growth-funding-round-to-expand-global-sar-leadership)
[Read more]
(https://www.iceye.com/press/press-releases/iceye-raises-oversubscribed-growth-funding-round-to-expand-global-sar-leadership)

HawkEye360 secures a $40m debt commitment

HawkEye360, a leading provider of space-based radio frequency (RF) data and
analytics, announced it had secured $40m in debt financing from Silicon Valley
Bank (SVB), a division of First Citizens Bank, to furthe its mission of
delivering advanced geospatial capabilities. Over the past 12 months,
HawkEye360 has raised $108m across its Series D-1 round, and this debt
financing has cemented investors' and lenders' confidence in its business and
financial momentum. HawkEye360 has raised over $400m in capital in under five
years, a landmark achievement. [Read more]
(https://markets.ft.com/data/announce/detail?dockey=600-202404020815PR_NEWS_USPRX____PH76687-1)

SpaceX rocket launches 11 satellites on new Bandwagon-1 rideshare flight,
including satellites from HawkEye360

The launch was the first for a new series of dedicated rideshare missions to
complement SpaceX's existing Transporter missions. Unlike Transporter
missions, which launch payloads into sun-synchronous orbits commonly used by
remote sensing satellites, the Bandwagon missions are intended to send
payloads to low earth orbits at inclinations of about 45 degrees. Bandwagon-1
carried 11 satellites, including six RF geolocation satellites called Clusters
8 and 9 for portfolio company HawkEye360. Hawkeye360 chose Bandwagon-1 because
the mid-inclination orbit offered improved coverage over low and mid-latitudes
compared to sun-synchronous orbits. These satellites will further support
HawkEye360's work to help monitor and prevent illegal, unreported and
unregulated (IUU) fishing across the Indo-Pacific region. [Read more]
(https://www.space.com/spacex-bandwagon-1-rideshare-mission-launch)

D-Orbit announces In-Orbit Edge Computing collaboration with SkyServe STORM

D-Orbit, a leader in the space infrastructure, logistics and orbital
transportation industry, announced that it will enable edge computing
capabilities with the SkyServe STORM platform aboard some of its ION Satellite
Carriers. SkyServe STORM will leverage D-Orbit's live earth observation data
feed, onboard compute and data distribution resources to process images into
inferences directly in space and deploying geospatial end-use applications.
The mission is designed to enable geospatial organisations and analytics
companies to deploy artificial intelligence models on satellites, aiming to
significantly enhance in-orbit data processing and analytics
capabilities.[Read more] (https://www.dorbit.space/media/4/99.pdf)

Mitsubishi Corporation joins Voyager Space's Starlab as strategic partner and
equity owner in joint venture

Starlab Space, the joint venture between Voyager Space and Airbus, welcomed
Mitsubishi Corporation as a strategic partner and equity owner. This
partnership expands Starlab Space's reach beyond a transatlantic collaboration
and transforms the joint venture into a global organisation. Mitsubishi
Corporation is expected to leverage its capabilities to significantly increase
the value of Starlab, using space research to enhance and accelerate
terrestrial product development in multiple industries and expand access to
space-based technologies globally.[Read more]
(https://www.prnewswire.com/news-releases/mitsubishi-corporation-joins-starlab-space-as-strategic-partner-equity-owner-in-joint-venture-302108391.html?tc=eml_cleartime)

Astroscale unveils world's first image of space debris captured through
rendezvous and proximity operations

Astroscale, a market leader in satellite servicing and long-term orbital
sustainability across all orbits, has unveiled the first publicly released
image of space debris captured through rendezvous and proximity operations
(RPO). The image was taken by its commercial debris inspection demonstration
satellite, Active Debris Removal by Astroscale-Japan (ADRAS-J), from several
hundred meters behind the space debris, a rocket upper stage. The
unprecedented image marks a crucial step towards understanding and addressing
the challenges posed by space debris, driving progress toward a safer and more
sustainable space environment. [Read more]
(https://astroscale.com/astroscale-unveils-worlds-first-image-of-space-debris-captured-through-rendezvous-and-proximity-operations/)

Spire Global secures multi-million Dollar deal with financial firm for weather
forecasts

Spire Global, a global provider of space-based data, analytics and space
services, has entered into a multi-million-dollar deal with a financial firm.
The Company will provide its High-Resolution Weather Forecast model, which
offers a six-day outlook powered by proprietary data collected from space, and
develop an AI-powered model for long-range forecasting. Through this deal,
Spire Global will build off of its recent collaboration with NVIDIA to
leverage Earth-2, NVIDIA's platform for weather and climate change modelling,
to train and run AI weather models. These models are projected to increase the
accuracy of weather forecasts and produce long-range probabilistic forecasts
at unprecedented speeds. [Read more]
(https://spire.com/press-release/spire-global-secures-multi-million-dollar-deal-with-financial-firm-for-weather-forecasts/)

SpaceTech Sector News

Seraphim Space announces the first close on a new early-stage fund to support
SpaceTech's brightest stars

Seraphim Space, the world's leading SpaceTech-focused investment group, has
announced the first close of its new venture fund, Seraphim Space Ventures II
LP ("SSV II" or the "Fund"). Building on a roster of historic corporate
backers that include significant players from the space sector, such as
Airbus, SES, Teledyne, Telespazio, Inmarsat and MDA, SSV II further
strengthens Seraphim Space's heavyweight industry backing with the addition of
Eutelsat, NEC and SKY Perfect JSAT. With the space sector now entering the
next phase of its transformation, the Fund will focus on investing at seed and
Series A stages in the next generation of visionary entrepreneurs looking to
transform science fiction into science fact. [Read more]
(https://seraphim.vc/news/seraphim-press-release/)

Seraphim Space releases the Seraphim Space Index Q1 2024

Since 2017, Seraphim Space has been producing the Seraphim Space Index report
- covering over 1700 deals, sharing unique access to knowledge and data about
investing in global space technology. This data is now available in an
easy-to-use interactive format to complement the pdf version. It was noted
that, in Q1 2024, the space sector maintained its upward trajectory, with
$2.4bn invested, marking a steady increase from Q4 2023's $2.1bn. This is part
of a larger trend of $7.2bn invested over the trailing 12 months to Q1 2024.
[Read more] (https://seraphim.vc/seraphim-space-index/)

The World Economic Forum releases 'Space: The $1.8 Trillion Opportunity for
Global Economic Growth' insight report

A new report released by the World Economic Forum in partnership with McKinsey
& Company announced the space economy could be worth $1.8tn by 2035, up
from $630bn in 2023 - almost twice the global GDP growth rate. This report
shows that space technologies are delivering more excellent value to more
diverse stakeholders than ever before. [Read more]
(https://seraphim.vc/wp-content/uploads/2024/04/WEF_Space_2024.pdf)

Media

Video webinar

The Seraphim Space Index Q1 2024 Explained: Seraphim Space investors Dr
Maureen Haverty and Lucas Bishop discuss the findings of the Seraphim Space
Index Q1 2024. They explore the investment activity across the previous
quarter, discussing where investment has taken place, including stage,
geography and category. The webinar provides a deep understanding of
investment data in the sector.  Watch 
(https://seraphim.vc/generation-space/live-stream/the-seraphim-space-index-q1-2024-live-webinar/)

Conferences

·           In-Orbit Servicing and Manufacturing Conference:
Seraphim Space Investment Analyst Lucas Bishop is speaking on 8 May 2024 in
Oxford.  Details 
(https://www.ukspace.org/event/in-orbit-servicing-and-manufacturing-iosm-conference-2024/)

·           Techstars DeepTech Event: Seraphim Space Investment
Analyst Lucas Bishop is speaking on 14 May 2024 in Berlin.  Details 
(https://www.deeptech.build/)

·           Dublin Tech Summit: Seraphim Space Managing Partner Rob
Desborough is speaking on 29 May 2024 in Dublin.  Details 
(https://dublintechsummit.tech/?utm_campaign=DTS24+-+2+for+1+-+Samhain&utm_medium=ppc&utm_source=adwords&utm_term=&hsa_acc=8160713141&hsa_ver=3&hsa_kw=&hsa_net=adwords&hsa_ad=&hsa_tgt=&hsa_grp=&hsa_mt=&hsa_src=x&hsa_cam=20711365151&gclid=CjwKCAjwv-2pBhB-EiwAtsQZFIWWpnjUCYedxEkRNOrXDQdhq3RB-eBfg23nkgsjgsaZQ00IRxCFmBoCtpkQAvD_BwE)

Find out where to meet and hear from Seraphim Space's team by following its
social media, LinkedIn (https://www.linkedin.com/company/seraphim-space/) /
Twitter (https://twitter.com/seraphim_space?lang=en) .

Sign up to receive Seraphim Space's monthly newsletter directly to your inbox.
[Sign up]
(https://seraphim.us16.list-manage.com/subscribe?u=e0d06c32336837b2b89cf44ae&id=68130aa2bb)

Neither the Company's website nor the content of any website accessible from
hyperlinks in it or in this newsletter (or any other website) is (or is deemed
to be) incorporated into, or forms (or is deemed to form) part of, this
newsletter.

- Ends -

Media Enquiries

 Seraphim Space Manager LLP (via SEC Newgate)
 Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough
 SEC Newgate (Communications advisers)                      seraphim@secnewgate.co.uk (mailto:seraphim@secnewgate.co.uk)
 Emma Kane / Clotilde Gros / George Esmond                  +44 (0) 20 3757 6767
 Deutsche Numis
 Mark Hankinson / Gavin Deane / Neil Coleman / David Benda  +44 (0) 20 7545 8000
 J.P. Morgan Cazenove
 William Simmonds / Jérémie Birnbaum / Rupert Budge         +44 (0) 20 7742 4000
 Ocorian Administration (UK) Limited                        seraphimteam@ocorian.com
 Lorna Zimny                                                +44 (0) 28 9078 5880

Notes to Editors

About Seraphim Space Investment Trust plc

Seraphim Space Investment Trust plc (the "Company") is the world's first
listed fund focused on SpaceTech. The Company seeks exposure predominantly to
early and 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
(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 and Seraphim Space Ventures
II LP.

Further information is available at www.seraphim.vc (http://www.seraphim.vc) .

About Seraphim Space Accelerator Ltd

Seraphim Space Camp Accelerator Ltd, an affiliate of Seraphim Space Manager
LLP based in the UK, established the Seraphim Space Accelerator in 2018 and
has developed it to become the world-leading VC-led accelerator with a focus
on SpaceTech. The accelerator programme brings in-depth industry expertise to
get Seed and Pre-Series A SpaceTech companies 'investment ready' while
facilitating relationships with some of the world's leading Space corporates
and agencies.

Further information is available at www.seraphim.vc (http://www.seraphim.vc) .

About Generation Space LLC

Generation Space LLC is the US subsidiary of Seraphim Space Manager LLP and is
responsible for its US activities. Generation Space LLC is an affiliate of
Seraphim Space Camp Accelerator Ltd and is responsible for delivery of the US
Generation Space Accelerator.

Further information is available at www.generation.space
(http://www.generation.space) .

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