Seraphim Space Accelerator (“Seraphim Space”), a first-of-its-kind SpaceTech accelerator led by UK affiliate Seraphim Space Investment Trust plc – the world’s leading venture capital firm specialising in SpaceTech investment, is expanding into the Asia Pacific (“APAC”) region and plans to make Singapore its regional hub.
Seraphim Space was awarded grant funding of S$185,000 from the UK Space Agency, as part of the Agency’s recent International Bilateral Fund designed to bolster the internationalisation efforts of the UK’s SpaceTech ecosystem.
With this added funding boost, Seraphim Space has initiated its first accelerator programme dedicated to APAC startups in the SpaceTech industry. About one-third of the participants are from the APAC region, of which three are Singapore-based companies. This cohort includes companies with deep SpaceTech technologies that could, for instance, disrupt the carbon credit industry with geospatial and satcom data.
Through the programme, the cohort will have the opportunity to develop key relationships with some of the world’s leading corporates and agencies operating in the space sector in Singapore, the UK and the US, as the startups look to raise capital to commercialise their technology. The corporate sponsors for this accelerator programme have included Leidos, ST Engineering, Safran, Airbus, UK Space Agency, Dentons, European Space Agency, Hispasat, Defence Science and Technology Laboratory, and Cobham.
Singapore will be the cohort’s first stop in September 2023, followed by the US in early November 2023, before ending in the UK in December 2023. Upon completion of the programme, the cohort will be a part of an impressive alumni group of over 100 SpaceTech companies, which have collectively raised over US$2.2 billion in funding and have an enterprise value of more than US$10 billion.
EarthEye Space, a Singapore-based company which is building an online marketplace for ordering geospatial data and insights, was Seraphim Space’s first SpaceTech startup out of Asia, and a proud alumni member of Seraphim Space’s accelerator programme.
Shankar Sivaprakasam, Founder of Eartheye Space said:
“Seraphim Space introduced us to an ecosystem of investors, partners and customers. These introductions were the highlight of the programme. We also had the opportunity to hone our business model and messaging. More tangibly, our pitch deck was significantly better than when we joined the programmme.
Media Release
September 7, 2023
Last but not least, learning from fellow cohorts worldwide was a huge plus. Seraphim Space in Singapore would immensely help space-tech start-ups like us from the tiny state in particular and APAC, in general, get more traction in the global market from funding to market penetration. There is also a massive opportunity for university research to find commercialisation pathways via the accelerator programme.”
The global space economy is currently worth US$464 billion and is estimated to be worth US$1.1 trillion by 2030. According to Seraphim Space Q2 2023 Space Index, Asia SpaceTech deals grew by 79% over the prior trailing twelve months period. Space is a budding industry in Singapore. Singapore has sent more than 20 satellites up to space since 2011, and there are currently more than 2,000 professionals and researchers working in more than 60 companies active across different verticals – from design and manufacturing to satellite-based services such as data processing.
Rob Desborough, Managing Partner at Seraphim Space said:
“This is our first accelerator programme in Asia Pacific, outside of our hubs in San Francisco in the US and London in the UK. About 25% of our last two cohorts hailed from APAC, demonstrating the growing appetite for space innovation in this region. We are thrilled to be able to fulfil our commitment to empowering SpaceTech startups from the region and fostering cutting-edge innovation on a global scale. The grant from the UK Space Agency’s International Bilateral Fund will play a pivotal role in expanding Seraphim’s footprint in the Asia Pacific region, facilitating valuable partnerships between the UK and APAC space industries.”
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Seraphim Space Accelerator is a leading SpaceTech accelerator that provides unparalleled investment and commercial support and resources to early-stage space startups. With a remarkable 86% of companies raising their next funding round within 12 months of programme completion and a collective US$290 million raised by alumni, Seraphim empowers entrepreneurs to thrive and create transformative innovations in the rapidly evolving space industry. To date, 81 companies from 27 nations have completed Seraphim’s accelerator programme, contributing significantly to the global space ecosystem. For more information, visit www.seraphim.vc.
About Seraphim Space Investment Trust plc
About Seraphim Space Accelerator
Media Release
September 7, 2023
Seraphim Space Investment Trust plc (the “Company”) is the world’s first listed fund focused on SpaceTech. The Company seeks exposure predominantly to early and growth stage privately 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 is listed on the Premium Segment of the London Stock Exchange. Further information is available at: https://investors.seraphim.vc.
For media inquiries or more information about Seraphim Space Accelerator, please contact: leah@seraphim.vc or sylvia.lee@secnewgate.sg or eunice.lim@secnewgate.sg.
