Seraphim Space Trust invests $25m into HawkEye 360

London-based Seraphim Capital’s Space Investment Trust has made a $25 million (€29.2 million) investment into HawkEye 360, a commercial provider of space-based radio frequency data and analytics.

The latest investment from the space-tech focused fund takes Seraphim Space’s portfolio of assets to a total of 20 space tech companies.

Since its IPO in July, Seraphim Space has made seven investments, with HawkEye 360 representing the first new company to be added to the firm’s portfolio and the first investment into a company that participated in the Amazon Web Services Space Accelerator, which is managed by Seraphim Space Camp.

Alongside this, HawkEye 360 also announced it closed $145 million in new funding. The round was led by Seraphim Space and New York-based global private equity and venture capital firm Insight Partners.

Additional funding came from new investors Jacobs and Gula Tech Adventures, as well as existing investors Advance, Razor’s Edge, NightDragon, Silicon Valley Bank, Airbus, Shield Capital. It brings the total amount of capital raised by HawkEye 360 to $302 million.

Mark Boggett, CEO of Seraphim Space, 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 [of dollars] over the next few years.”

Boggett said the “breakthrough technology” will impact the environmental and security sectors. 

Will Whitehorn, chair of Seraphim Space, said: “In order to police the illegal activities of the vast ocean, the world needs – but does not yet have – timely, consistent, and actionable intelligence on illicit vessel behaviours across the globe.

“Organisations and governments are increasingly expanding their digital ecosystems and seeking to leverage new information and analysis services to gain an edge in intelligence. HawkEye 360 provides a unique source of information to augment national security operations, maritime domain awareness, environmental protection, and many additional applications. It is a compelling addition to our portfolio.”

Seraphim Space Investment Trust was listed on the premium segment of the London Stock Exchange in July this year, after its IPO raised £178.4 million. The trust currently has exposure to 10 space tech companies and has agreed to investment in two further companies December 31, 2021.

© 2021 funds europe

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