TAMPA, Fla. — British investment firm Seraphim Space announced May 4 the nine space startups taking part in its latest accelerator program, which aims to help them raise funds despite a challenging macroeconomic outlook.
Companies joining Seraphim’s eleventh accelerator are the most geographically diverse in the program’s five-year history, the investor said, ranging from a Lithuanian optical communications specialist to a satellite startup focusing on improving connectivity across Africa.
The 11-week program kicked off April 4 and is designed to help young businesses refine their corporate pitches, connect with mentors, and ultimately broaden Seraphim’s pool of potential investments.
According to Seraphim, the program has so far helped 81 startups raise more than $270 million from 80 venture capitalists.
Recent funding successes from previous accelerator participants include $10 million raised by German space-based water monitoring startup Constellr in November, and the $5 million secured by Array Labs in October for a constellation that would gather global 3D imagery.
Seraphim participated in both fundraising rounds through its publicly listed Seraphim Space Investment Trust, along with other investors.
Members of Seraphim’s eleventh bi-annual accelerator program, which is being run jointly by its U.K.-based Seraphim Space Accelerator and Generation Space, its U.S. arm based in San Francisco, are:
- Astrolight (Lithuania), which is developing optical communications technology for low Earth orbit satellites.
- Spacecraft docking technology developer Kurs Orbital (Italy).
- GalaxEye (India), which is building a multi-sensor imaging satellite for Earth observation.
- Allocation Space (U.S.), a financial services firm developing trading tools for the space industry.
- EarthEye (Singapore), which is developing an online marketplace for ordering geospatial data and insights.
- Amini (U.S.), a startup with plans for an Africa-focused constellation for connecting remote Internet of Things (IoT) devices.
- Orbital Composites (U.S.), a 3D-printing specialist aiming to improve satellite payload capacity.
- In-space refueling station developer SPACEIUM (U.S.)
- Virtus Solis (U.S.), which is developing a commercial space-based solar power system.
Early-stage space investments declined last year as investors became increasingly conservative amid high inflation, rising interest rates, supply chain issues, and other economic pressures.
However, Seraphim recently said it sees signs of rising investor confidence as growth capital returns to the industry.
“Despite a turbulent macroeconomic outlook, the space sector remains resilient,” Seraphim managing partner Rob Desborough said in a news release announcing its latest accelerator program.
In addition to the United Kingdom and the United States, Seraphim is seeking to establish a presence in Singapore to focus on the Asia Pacific region.