Seraphim Space Investment Trust PLC (LSE:SSIT) took its portfolio to 20 companies as it made a US$25mln investment into HawkEye 360 Inc, a commercial provider of space-based radio frequency (RF) data and analytics.
This is the first investment into a company that participated in the Amazon Web Services Space Accelerator and the space-tech fund’s seventh investment since its initial public offer in July.
The Amazon Web Services Space Accelerator is delivered by the Seraphim Space Camp accelerator programme.
The investment was part of a US$145mln funding round announced by HawkEye today, as it looks to achieve transformational growth in its data and analytical services product line.
The funding round was led by Seraphim Space and New York-based global private equity and venture capital firm Insight Partners.
Mark Boggett, CEO of the trust’s investment manager, said: “Our strategy is to invest into the emerging category leaders within the space sector that are building a new digital platform in the sky. We can say with conviction that HawkEye 360 is the undisputed global leader in radio frequency analysis, a market we believe will grow to $billions over the next few years.”
He said Seraphim carefully built its relationship with HawkEye 360 since 2017, culminating with them participating in the Amazon Web Services Space Accelerator, with this US$25m investment reflecting “the potential we believe this breakthrough technology will have across the environmental and security sectors”.
He added: “We are convinced that HawkEye 360 has both the technology advantage, together with the commercial and governmental relationships, to transform, reshape and develop the industry on a global scale at speed."
