Isotropic Systems, a UK-based space tech startup, has closed a $37 million Series B funding round to develop transformational broadband terminal technologies.
The latest funding round was led by the world’s first listed space tech fund, Seraphim Space Investment Trust PLC, with participation from strong strategic investors like AEI HorizonX, Promus Ventures, and Firmament Ventures. The startup is also receiving support from industry-leading strategic investors including SES and the UK Government. James Bruegger, Seraphim Space Investment Trust’s investment manager, said about the firm’s participation in the round:
“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,”
The startup currently has offices in the UK and U.S to support the satellite industry by developing innovative solutions to meet the increasing demand of the industry. The new investment will allow Isotropic Systems to fuel the development of its technology through the commercial launch of its first product line in 2022. John Finney, Founder and CEO at Isotropic Systems, said about these plans:
“The strong interest we have received from across the industry has given us the confidence to accelerate our growth plans and bring forward the commercialization of our groundbreaking new terminals, harnessing the potential of the thousands of new satellites being launched across multiple orbits in the year ahead.”
The startup is aiming at becoming a leader in the space tech industry at a time when new use cases continue to emerge by reducing costs, improving efficiency, and exploiting the potential of the latest developments in the tech sector such as radiofrequency optics.
Through its radiofrequency optics technology, the high-performance multi-link antenna can connect to multiple satellites without impacting the performance of each revolutionizing the global satellite ecosystem across a range of markets like government, defense, enterprise, aerospace, and maritime.