Starry eyed investors: Seraphim Space Camp for startups pushes into the US
Seraphim Space Camp, a UK-based programme which helps space-tech startups get ready to go public, has pushed into the US – as leaps in progress catch the eyes of investors.
The programme, set up by London-listed space-tech investment fund Seraphim, is a venture capital-led scheme which rallies initial public offering (IPO) level funding behind the space industry’s smaller players.
This year’s cohort, where UK businesses make up the majority – including London-based ODIN Space which provides monitoring for space debris and asset preservation – hosts a total of seven startups.
The UK’s space industry has taken off in recent years, as the country emerges as a key player in the space race renaissance.
Outside of the UK, startups include Norwegian Ntention, which makes tech for the next generation of spacesuits, Germany’s AIRMO, which seeks to track greenhouse gas emissions with satellites and US-based Cisluner Industries, which is hoping to recycle space debris into new metals.
The 11-week scheme will also introduce startups to investors, in a bid to secure funding beyond the programme amid an, at times, turbulent industry.
Some 92 per cent of Space Camp alumni have snagged funding after the scheme, according to Seraphim’s own data.
“The global space sector continues to evolve exponentially, as entire new industries develop and entrepreneurs seek to solve the most complex, emerging problems affecting our planet, using space-based technology,” explained Space Camp CEO and Seraphim manging partner Rob Desborough.
“Over the last five years, we have helped 54 early-stage companies raise over $180m (£145.2m) of investment and build fruitful connections with some of the major corporations in the industry. As a result, our alumni are prepared for the journey ahead of them and have an impressive survival rate of 98 percent.”
Richard Franklin, managing director of Airbus Defence and Space UK, which was a founding investor in Seraphim added that the aerospace heavyweight will “actively assist” startups in becoming “part of the growing UK and global space ecosystem and supply chain.”