-Isotropic Systems completes an industry and financial backed funding round, including UK government support through the Government's Future Fund, equity participation through global strategic investors, venture capital and UK grant funding support awarded by the UK Space Agency
-Attracting strategic investor support from industry leaders Boeing HorizonX Global Ventures, SES and UK Government complemented by investment from deep-tech venture capital firm Promus Ventures through its Luxembourg based space investment fund, Orbital Ventures
-Secures commercialisation of Isotropic's next-gen ground antennas designed to vastly improve connectivity across the satellite ecosystem
-New UK site dedicated to technology and testing operations to add hundreds of STEM roles in the UK
LONDON, Feb. 8, 2021 /PRNewswire/ -- Isotropic Systems, a leading developer of transformational broadband terminal technologies, announces that is has fully secured funding of over $40 million providing the necessary capital required to develop its game-changing multi-beam antennas.
The round brings together equity and grant funding support from the UK Government and market leaders in Aerospace and Telecommunications. SES led the round, along with participation from specialised space investors Orbital Ventures, UK government's Future Fund and existing investors Boeing HorizonX Global Ventures, Space Angels and Firmament Ventures. Demand for the oversubscribed round was driven by recent development contracts for Isotropic Systems' transformational terminal, advanced over-the-air testing, and the accelerated development and roll-out of its phase one terminal expected early 2022.
With funding in place, Isotropic Systems plans to accelerate its production phase in time to support new constellations and satellites launching in all satellite orbits from 2022 onwards. Isotropic will also open a 20,000 sq. ft. technology and testing facility near the company headquarters in Reading, UK, and will see the company create an additional 150 highly skilled engineering roles to the UK over the next two years.
Isotropic Systems' patented radio frequency optics technology enables the high-performance multi-beam antenna to simultaneously link with multiple satellites in multiple orbits without any compromise in the performance of each link. This industry first unlocks the global satellite ecosystem for unprecedented connectivity across a broad range of markets, including government, defense, maritime, enterprise, and aerospace. With multiple new space constellations being launched by organisations including OneWeb, Inmarsat, Intelsat, SpaceX, Amazon, SES and Telesat, innovation in space needs to be matched by innovation on the ground and air.
"Isotropic Systems is extremely well positioned to unlock a new age of high-powered, multi-orbit connectivity with our next-gen multi-beam antenna," said John Finney, Isotropic Systems Founder and CEO. "As one satellite constellation after another is announced for launch in future years, our technology is unique in that it allows service providers and end users to take the best of the many thousands of satellites going into orbit using a single
integrated terminal, unlocking the demand for the satellite industry as a whole, radically changing the way bandwidth services are delivered to end-users and vastly exceeding the capability of any single satellite system. This unique, cost-effective solution has allowed us to attract world class investment support from our industry, which in turn will allow us to unlock significant export revenue for the UK economy and across the satellite sector. As we grow our UK-based team, collaborative partnerships and capabilities, we are proud to support tech innovation in the UK to solve connectivity challenges across a broad range of key vertical and geographical markets around the world."
UK Science Minister, Amanda Solloway MP said: "The UK space sector is thriving and with connectivity never having been more important, it's vital we support pioneering companies like Isotropic Systems who are tapping into the benefits that space technology can bring us all on Earth. Backed by UK government, these new multi beam antennas will improve connectivity for us all at home, and for emerging technologies such as driverless cars, while helping to create 150 highly skilled UK jobs as we build back better."
SES CEO Steve Collar: "At SES, we believe in doing the extraordinary in space to deliver amazing experiences on earth and delivering amazing experiences requires innovation across the ecosystem. That's why we are building our next-generation system, O3b mPOWER, together with innovators like Isotropic Systems. Isotropic's multi-beam antenna plays an important role in our multi-orbit strategy and is a key enabler for advanced satellite services on land, in the air and at sea. Our investment reflects the potential that we believe this breakthrough technology has for SES and for the industry as a whole."
Brian Schettler, Senior Managing Director, Boeing HorizonX Global Ventures: "Our continued investment in Isotropic Systems, underlines our commitment to strengthening the global satellite ecosystem. The development of Isotropic's unique RF optical technology will further accelerate the expansion of space-based connectivity to meet the growing demand for satellite data, transportation and mobility connectivity, and broadband services."
According to Orbital Ventures/Promus Ventures, PartnerGareth Keane, "At Promus Ventures, we invest in early-stage deep-tech companies with exceptional teams and ground-breaking ideas and technologies, and Promus Ventures is excited to support Isotropic Systems through our space-focused Orbital Ventures fund. Constellations and launch companies are already getting a lot of attention with their disruptive products and services and now key areas such as ground segment connectivity are likely to attract the next wave of investment, and this UK company is leading the charge."
About Isotropic Systems
With offices in the UK and U.S., Isotropic Systems is developing the world's first multi-service, high-bandwidth, low power, fully integrated high throughput terminals designed to support the satellite industry to 'reach beyond' traditional markets and acquire new customers with a full suite of high throughput services. The company's team of industry experts and scientists has pioneered several firsts in satellite terminal design resulting in a line of terminals that are customizable to meet the performance, cost and power requirements of countless applications - from the most complex government defense systems and mobile backhaul solutions capable of extending 5G, to next-gen connected experiences aboard commercial airliners, cruise ships, offshore rigs, and even small fishing boats at sea. Further information is available at www.isotropicsystems.com
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