London-listed Space tech fund Seraphim Space Investment Trust (SSIT) has made its first capital deployment from its recent £137m C Share fundraise, injecting a combined $28.6m (£21.3m) into two firms.
The follow-on investments comprise $25m (£18.6m) for hyperspectral imaging specialist Pixxel and $3.6m (£2.7m) for radioisotope power developer Zeno Power.
The move follows SSIT’s £137m C Share equity raise completed in May 2026, designed to accelerate investments across high-conviction space technology scaleups.
Bengaluru and US-based Pixxel is constructing a commercial hyperspectral Earth observation satellite constellation paired with its AI analytics platform, Aurora.
The data allows clients across agriculture, mining, energy, and sovereign defence to identify material signatures undetected by standard satellite imagery. Since SSIT’s initial backing in 2022, Pixxel has expanded into satellite manufacturing and secured major defence contracts with the Indian government.
US-based Zeno Power develops commercial radioisotope power systems, or nuclear batteries, designed to supply continuous, long-duration energy in extreme environments where solar power is ineffective, such as during the two-week lunar night.
Beyond space applications, Zeno’s systems are targeted at maritime and defence infrastructure, including seabed sensor networks and autonomous underwater vehicle charging stations. The firm currently holds contracts with NASA, the US Navy, and the US Space Force.
“These investments mark an important milestone in the execution of the strategy outlined as part of our successful £137 million C Share fundraising,” said Mark Boggett, chief executive officer of Seraphim Space Manager LLP.
“Pixxel is advancing the next generation of AI-powered Earth observation while benefiting from the increasing importance of sovereign space capabilities… Zeno is positioned at the convergence of nuclear power, defence and the emerging lunar economy.”
SSIT noted it remains on track to begin converting the C Shares into Ordinary Shares following the close of the current quarter.
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