Israeli satellite company SkyFi raises $3million in investment

SkyFi, an Israel-based technology start-up, has raised US$3 million in its first round of fundraising to create worldwide internet access through a network of 60 satellites which cost, in total, less than one conventional satellite. SkyFi has developed patented technology to reduce the cost of putting satellites into orbit and greatly enhance link bandwidth, enabling 1 gigabit-per-second communications from anywhere on Earth.

The main components for SkyFi’s solution are an expandable antenna that is deployed in space and a flexible sub reflector, which compensates for any reflector shape imperfections. This technology will enable satellite owners to change the pattern of coverage on Earth while a satellite is in orbit.

SkyFi disclosed this new technology at the Microsoft Think Next event in Tel Aviv at the end of February, garnering much media attention.

SkyFi’s founders are Raz Itzhaki Tamir, CEO; Daniel Rockberger, COO; and Danny Spirtus, CTO. Together they comprise a group of space engineers who have worked with Israeli Aerospace Industries, RaySat Broadcasting and Gilat Satellite Network among others, and have lectured at the International Space University. Members of the SkyFi team have filed over 20 patents combined.

Jerusalem Venture Partners and Liberty Israel Venture Fund, a subsidiary of Liberty Media Corporation, are providing the funding. The company was formerly known as NSLComm.