Isotropic Systems, a Reading-based developer of transformational broadband terminal technologies, raised over $37 million (approx £27 million) in an equity financing round.
The round was led by Seraphim Space Investment Trust PLC – with participation from AEI HorizonX, Promus Ventures through its Luxembourg-based space investment fund Orbital Ventures, and Firmament Ventures.
The UK company intends to use the funding for the development of its multi-link antennas through to product launch in 2022.
World’s first multi-beam satellite terminal
Founded by John Finney in 2013, Isotropic Systems develops multi-service, high-bandwidth, low power, fully integrated terminals designed to support the satellite industry.
The company’s 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.
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.
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 has 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.”