Ashutosh Pande’s Post

Shanghai Spacecom Satellite Technology has raised 6.7 billion yuan ($943 million) for the construction of its G60 low Earth orbit megaconstellation. SSST recently secured the series A funding according to Feb. 1 news reports, citing a major investor. The round was led by a fund set up by the National Manufacturing Transformation and Upgrading Fund (NMTUF), Reuters reported. Other investors included Shanghai Alliance Investment, a venture capital arm of the Shanghai Municipal Government, CASSTAR, a venture investment and incubator firm ultimately under the Chinese Academy of Sciences (CAS), Guosheng Capital, Hengxu Capital and CAS Capital, also under CAS. The development comes as SSST prepares to begin construction of its 12,000-satellite strong “G60” constellation. An initial 108 satellites of a total of around 12,000 “G60 Starlink” satellites are to be launched across 2024. SSST and CAS’s Innovation Academy for Microsatellites (IAMCAS) established Shanghai Gesi Aerospace Technology (Genesat) in 2022 to set up satellite manufacturing facilities. #satellitetechnology #lowearthorbit #megaconstellation #satellites #satelliteconnectivity #satellitedata #satelliteimagery #satellitecommunications #satelliteinternet

"#Shanghai Spacecom Satellite Technology has raised 6.7 billion yuan ($943 million) for the construction of its #G60 #LEO #megaconstellation. #SSST recently secured the #seriesA #funding according to Feb. 1 news reports, citing a major investor. The round was led by a #fund set up by the National Manufacturing Transformation and Upgrading Fund (#NMTUF), Reuters reported. Other #investors included #ShanghaiAllianceInvestment, a #venturecapital arm of the Shanghai Municipal Government, #CASSTAR, a venture investment and incubator firm ultimately under the Chinese Academy of Sciences (CAS), Guosheng Capital, Hengxu Capital and CAS Capital, also under CAS. The development comes as SSST prepares to begin construction of its 12,000-#satellites strong “G60” constellation. An initial 108 satellites of a total of around 12,000 “G60 Starlink” satellites are to be launched across 2024."... #space news #Newspace #newspaceeconomy

90 communications satellites are currently in orbit, digitizing the earth's surface. Have you heard about Maxar Technologies? Not yet? Well, then, it's the right time to begin recognizing this company. Check the figures: 👉 125+ petabytes of imagery  👉 3.8+ million sq km of high-resolution imagery collected each day 👉 50 governments use their technology 👉 Maxar provides 90% of the foundational geospatial intelligence used by the U.S. Government for national security Cool but invisible tech, isn't it? 😉 ----------- Follow Michal Ukropec for more 3D, digitization, and Industry 4.0 trends | #innovation #startup #digitaltwin

Congratulations to Team Axelspace Corporation for closing a jaw-dropping $43.5 million Series D investment round! 🙌 👊 🚀 Axelspace is a #microsatellite developer and #satellite imagery provider based in Tokyo, Japan. The company is a 2020 XTC Japan Global Finalist in Enabling Technologies. 🛰️ Axelspace will expand its satellite constellation and provide smallsats for other applications. According to the SpaceNews article, the funding round is the latest sign of growing investor interest in Japan for entrepreneurial space companies. Axelspace operates five microsatellites that provide medium-resolution imagery through a service called AxelGlobe. Four of those satellites launched in 2021, three years after its first satellite. Axelspace will use the capital to support expansion of its satellite constellation.   “It's great to see Axelspace (from XTC Japan, our friends from IT-Farm Corporation) continue to kill it, reaching Series D, which is great to news coming from the Japanese ecosystem,” said Victoria Slivkoff, Executive Managing Director of Extreme Tech Challenge.   What a way to end 2023! We’re celebrating Axelspace’s remarkable growth as we share their latest investment news. 🥳 Read the SpaceNews article 👉 https://lnkd.in/gq45PtED #spacetech #investment #impact Young Bill Yuya Shinya John Sumitomo Mitsui Banking Corporation Lars Catherine

🚀 China’s Orienspace Secures $83.67 Million for Rocket Development Amid Rising Satellite Launch Demand... China’s private rocket developer, Orienspace, has just announced a successful fundraising of nearly 600 million yuan ($83.67 million). This is a pivotal moment in the arena of commercial space ventures. Key Highlights: 🔹 Substantial Funding: Nearly 600 million yuan raised, signaling strong investor confidence. 🔹 Rising Demand: Aligns with the surging need for commercial satellite launches in China. 🔹 New Investors: Includes Liangxi Science and Tech Innovation Industry Fund, amongst others. 🔹Future Plans: Funds allocated for research and manufacturing of an in-house rocket engine and development of the reusable Gravity-2 rocket. 📈 Market Growth: Orienspace is part of China’s rapidly growing commercial space sector, already securing orders for several hundred satellite launches. This move by Orienspace is not just about raising funds; it's about marking a significant milestone in China's ambitious space endeavors. The company's focus on developing the Gravity-2 rocket, designed for reusability, demonstrates a clear vision for the future of space technology. Read more 👇 https://lnkd.in/eTYHRwcx #SpaceTech #Innovation #RocketDevelopment #CommercialSpace #Orienspace

[CubeSpace Acquires Dawn Dusk to Provide Superior Control Systems Solutions] CubeSpace, a leading satellite component manufacturer, has announced its acquisition of Dawn Dusk, a satellite simulation software company. This strategic move integrates Dawn Dusk’s advanced satellite simulator with CubeSpace’s offerings, enhancing services for CubeSpace’s growing customer base. Furthermore, the integration will enable CubeSpace customers to simulate satellite control systems on the ground before launch, increasing confidence by allowing commissioning processes in simulation. Ground testing of satellite responses will help de-risk operations, ensuring more reliable in-orbit performance. A key feature of the Dawn Dusk simulator is its compatibility with CubeSpace hardware for Hardware-In-The-Loop (HIL) testing. This setup allows the Attitude Determination and Control System (ADCS) hardware to operate as if in space, with the simulator generating in-orbit telemetry. Thus, CubeSpace customers can develop onboard computer (OBC) code for ADCS interfacing and test it on real hardware. In addition, CubeSpace will integrate all ADCS-related services from Dawn Dusk into its service offering. Plans include expanding the range of microsatellite reaction wheels and scaling up production to eliminate lead times and ensure rapid delivery. By offering integrated simulation and hardware testing solutions, CubeSpace aims to enhance the reliability and effectiveness of satellite missions, helping customers achieve their space objectives confidently. Dawn Dusk also provided AIT (Assembly, Integration, and Test) support, focusing on testing hardware using hardware-in-the-loop simulations to ensure equipment functionality before launch. Additionally, the company offered operator training through satellite emulation, enabling training operators to perform satellite commissioning exercises in controlled, repeatable environments. This end-to-end support covered the entire lifecycle of satellite missions, from planning and testing to operation and training, preparing operators for real-world scenarios. CubeSpace boasts an annual growth rate of 50% and serves over 200 clients. With experience spanning over ten years, CubeSpace has delivered over 3,000 components globally to national space agencies and private sector companies, and its products have been installed on more than 300 satellites. This acquisition aligns with CubeSpace’s strategy to expand into international markets. In addition, it follows a ZAR 47 million venture capital funding round led by the University Technology Fund, with Savant Venture Fund as a co-investor. Source: https://lnkd.in/eZzHifBW #galaxyaerosgh #space #spaceexploration #SpaceNews

Check out Connectivity Business News' Executives to watch in 2025, a list of innovators in the connectivity industry that have had transformative years with ambitious plans for the future!

The Government of India has approved an amendment in the FDI policy on the Space sector to allow 100% foreign direct investment (FDI). At Speciale Invest, we believe in India's SpaceTech prowess, and have been among the earliest to invest across the #SpaceTech value chain over the years - AgniKul Cosmos (Launch Vehicles), GalaxEye (Satellites), InspeCity (InSpace Operations), Astrogate Labs (SatCom), Kawa Space (Downstream Analytics). We believe the FDI policy reform would boost investment in the sector leading to increased employment and expansion in manufacturing facilities in the country. As we look forward to pushing the boundaries of Space Technologies built in India for the world, we are delighted with the efforts from the Government, and key stakeholders. Arjun Rao | Dhanush Ram | Mridula Menon CFPᴄᴍ | Nithish Kumar | Shobhankita Reddy | Sunil Cavale | Vishesh Rajaram | Vishnu Rajeev https://lnkd.in/eTa2CK3p #spacetech #deeptech #venturecapital #startups #isro #spacetechnology

Open season for foreign investments in Indian Space startups. Under the amended FDI policy, 100% FDI is allowed in space sector. The liberalized entry routes under the amended policy are aimed to attract potential investors to invest in Indian companies in space. The entry route for the various activities under the amended policy are as follows: - Upto 74% under Automatic route: Satellites-Manufacturing & Operation, Satellite Data Products and Ground Segment & User Segment. Beyond 74% these activities are under government route. - Upto 49% under Automatic route: Launch Vehicles and associated systems or subsystems, Creation of Spaceports for launching and receiving Spacecraft. Beyond 49% these activities are under government route. - Upto 100% under Automatic route: Manufacturing of components and systems/ sub-systems for satellites, ground segment and user segment. https://lnkd.in/ePx29f_u

The launch of Agnikul Cosmos' Agnibaan rocket marks a significant milestone for India's space sector, showcasing the country's capability in complex rocket technology with the use of a semi-cryogenic engine. This launch, along with the developments by other private companies like Skyroot Aerospace and the upcoming Small Satellite Launch Vehicles (SSLV), positions India to become a global hub for small satellite launches. IN-SPACe, the commercial arm of ISRO, is facilitating this growth by establishing a dedicated launch centre at Kulasekharapatnam and promoting private sector participation. The increasing number of startups, which has grown from 21 to over 200 since September 2021, reflects the rapid advancement and commercialization in the sector. The small satellite market is anticipated to be a major revenue source, with each launch vehicle potentially valued at Rs. 30-50 crore (US$ 3.60 million to US$ 6.00 million), contributing significantly to India's projected US$ 44 billion space economy by 2033. The new space and FDI policies have garnered positive global responses, encouraging foreign investment and business collaborations. As the sector prepares for substantial investment and revenue generation, IN-SPACe is also working on establishing a comprehensive Space Law to embed the regulatory framework into the parliamentary system, further solidifying India's space industry's legal and operational structure.