After helping 91 startups collectively raise over $320m, Seraphim Space (UK)/Generation Space (USA) Accelerator launches in APAC
London, San Francisco and Singapore, 17th October 2023: Seraphim Space, known as Generation Space in the US, which runs the leading, dedicated accelerator for startups in the global SpaceTech industry, announces the companies participating in Mission 12.
Since 2018 the programme has helped 91 startups and the mission 12 cohort will be joining an impressive alumni of SpaceTech companies, who have collectively raised over $320m. 86% of companies that go through the accelerator raise within 12 months, and 93% of companies have been successfully funded, with the average post-accelerator raise being $4m.
The accelerator now has an established presence in APAC with the company announcing its presence in Singapore at SuperReturn Asia in September. The global representation in Mission 12 reflects the exponential growth of the space economy. According to the Seraphim Space Index, European deal numbers have grown by over 60% in comparison to last year and Asia is also making its mark with a 79% increase, showing that the SpaceTech industry continues to develop and increase its representation globally.
Mission 12 sees Leidos, a Fortune 500 technology, engineering and science solutions and services leader, working to solve the world’s toughest challenges in defence, intelligence, civil and health markets, join as a new sponsor. The accelerator is a three-month programme that supports SpaceTech companies from inception to IPO, helping them to forge key relationships with some of the world’s leading corporates and agencies operating in the space sector as they raise capital to commercialise their technology
The accelerator proudly continues its relationship with key corporate parties and industry bodies, including ESA – as part of a multi-year partnership alongside ESA’s ScaleUp programme to help uncover the most exciting early-stage companies in Europe. Other key partnerships include the UK’s National Security Strategic Investment Fund (NSSIF), UKSA, Airbus, Cobham, Dentons, DSTL, Cyient, and Satellite Applications Catapult, enabling the participating startups to engage with industry leaders and forge partnerships and contacts that have a real impact on their growth.
The cohort members focus on areas including space-pharma, multi-modal propulsion, ESG and green finance
The Accelerator’s unique position at the epicentre of the ‘New Space’ ecosystem continues to attract startups from all over the world – with this year’s cohort being scouted from five countries across three continents. Startups continue to flourish in spite of a tough economic climate and future accelerator cohorts will be enhanced through the company’s recent collaboration with the UK Space Agency. The company recently won the UK Space Agency’s International Bilateral Fund Phase 1 grant – which will further expansion plans in Singapore. This grant has also been included in the Department for Business and Trade and the Singaporean Government’s announcement at the International Astronomical Conference – highlighting the bilateral cooperation between the nations.
There have been a number of success stories among the programme’s alumni. Mission 10 participants, Auriga, a startup developing a novel kinetic launch system, recently raised a $4m seed round from the Seraphim investment fund.
Rob Desborough, Managing Partner at Seraphim Space/Generation Space and CEO of the Accelerator, said: “Our growing presence in APAC is particularly exciting, as the appetite for SpaceTech innovation and investment intensifies in the region. Winning the UK Space Agency’s International Bilateral Fund Phase 1 grant is a significant milestone, reflecting our commitment to developing SpaceTech opportunities in territories beyond the US and Europe. As we move into our 12 cohort and sixth year I’m also delighted that we can evidence industry-leading accelerator statistics for fundraising success!
“Since the accelerator was launched over six years ago, we have witnessed an extraordinary period of growth and maturity within the space sector. Higher investment, improved infrastructure, and digital technologies are all contributing factors to the next generation of SpaceTech startups. Despite a turbulent macroeconomic outlook, the space sector remains resilient and activity in the sector remains strong, with the number of Seed deals growing by almost 55% year-on-year.”
For further information, or to arrange to speak to Seraphim Space Accelerator (UK) or Generation Space Accelerator (U.S) for other enquiries please contact the press office:
T: +44 (0) 7905671593 (Joe Doyle)
About Seraphim Space Accelerator and Generation Space Accelerator:
Working with 230 corporates, government agencies and over 500 investors worldwide, the Seraphim Space Accelerator (UK) and Generation Space Accelerator (USA) is the world’s leading accelerator focused on space technology, providing support, networks, resources to scale up and become investment-ready. Since the conclusion of the previous 11 Missions, 91 alumni companies have raised $320 million in investment.
About Seraphim Space Investment Trust plc:
Seraphim Space Investment Trust plc is the world’s first listed fund focused on SpaceTech. The Company seeks exposure predominantly to early and growth stage private financed SpaceTech businesses that have the potential to dominate globally and that are sector leaders with first mover advantages in areas such as climate, communications, mobility and cyber security.
The Company listed on the Premium Segment of the London Stock Exchange on 14 July 2021, following an oversubscribed IPO raising £178.4m. As at 30 June 2022, the Company had net assets of £239.3m and exposure to more than 25 Space Tech companies. Seraphim Space Investment Trust plc is managed by Seraphim Space (Manager) LLP.
Further information is available at: https://investors.seraphim.vc
About Seraphim Space Manager
Seraphim Space Manager manages Seraphim Space Investment Trust plc, which seeks exposure predominantly to early and growth stage private financed SpaceTech businesses that have the potential to dominate globally and that are sector leaders with first mover advantages in areas such as climate, communications, mobility and cyber security.
Further information is available at: www.seraphim.vc
About Generation Space
Generation Space LLC is the U.S. subsidiary of Seraphim Space Manager, LLP and is responsible for its U.S. activities.
Further information is available at: www.generation.space.