The Satellite Applications Catapult has welcomed the launch of the £50m Seraphim Space Fund, describing it as a “game-changing boost to the UK space industry”.
The UK-based fund is the first of its size anywhere in the world, focusing on investing in early-stage technology companies emerging from the ‘new space’ revolution. It will invest in commercial applications in both software and hardware opportunities, as well as in technologies that have potential space applications such as artificial intelligence, robotics and nanomaterials.
Stuart Martin, CEO of the Satellite Applications Catapult, said: “We have no doubt that the launch of the Seraphim Space Fund will be a game-changing boost to the UK space industry.
“Given its broad remit, there are big opportunities for stakeholders of all sizes – from start-ups through to SMEs and larger organisations – to benefit from the investment available, further proving the value of satellite-derived data in delivering commercial advantage and social innovation. We look forward to supporting the fund’s activities through our network and central role in the space and satellite applications start-up ecosystem in the UK.”
The fund is targeting an £80m final close during the next two quarters.