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#SpaceWatchGL Column: E2MC Update On Space-Financing Rounds in April 2021

by Raphael Roettgen

Photo by NASA on Unsplash.

The space SPAC market took a breather in April, with no announced transactions, but we did have a traditional IPO (remember those?) by MDA in Canada. SpaceX and OneWeb also helped pick up the slack and together raised more money than last month’s three SPAC transactions combined, without even counting Astranis’s US$250 million round.

Beyond the four blockbusters fundraises above, April was a very good month all around for space fundraising, with another 21 deals across countries and subsectors. The 25 rounds in total raised almost US$2.6 billion. I like to give a shoutout to thermal infrared remote sensing specialist Satellite Vu, where E2MC Ventures was part of the round, as well as our friends at space crowdfunding platform Spaced Ventures, where I serve as an advisor. Another one of the companies that raised in April, German satellite data analysis company LiveEO, is featured on the most recent episode of my Space Business Podcast.

April also saw several M&A transactions in the space sector, notably the acquisition of Orbcomm by private equity firm GI Partners.

Reminder: if you are following the new space sector and are looking for a concise introduction to its trends, main business activities, and possible outlook (and if you happen to speak German!) you may be interested in my new book I recently published with Spacewatch.Global – you can check it out here.

 

CompanyUS$mCountrySubsectorInvestors
SpaceX1164U.S.Diversified99 investors

 

OneWeb550UKSatcommEutelsat
MDA (IPO)317CanadaDiversifiedNA
Astranis250U.S.SatcommACE & Company, AME Cloud Ventures, Andreessen Horowitz, Baillie Gifford, BlackRock, Fidelity Management and Research Company, Fifty Years, Harpoon, Indicator Fund, Industry Ventures, Jaan Tallinn, Jeff Dean, Jude Gomila, Koch Industries, MONASHEE INVESTMENT, Refactor Capital, Rising Tide, Soma Capital, Uncorrelated Ventures, Venrock

 

Tomorrow.io (former Climacell)

 

77U.S.Remote sensing (weather)Stonecourt Capital, Highland Capital Partners
Spire70

(debt)

 

U.S.Remote sensingFrancisco Partners
Hawkeye 36055U.S.Remote sensing (frequency mapping)

 

Adage Capital Management, Advance, Dorilton Capital, Esri, NightDragon Security, Razor’s Edge Ventures, Shield Capital Partners

 

Unseenlabs24FranceRemote sensing (frequency mapping)

 

360 Capital, Blue Oceans Partners, Breizh Up, Hemeria, Omnes Capital

 

Satlantis17SpainRemote sensing (payloads)

 

Enagas, Sepides
Orbital Sidekick16U.S.Remote sensing (hyperspectral)

 

emasek, Energy Innovation Capital, Allied Minds and 11.2 Capital, Syndicate 708

 

Albedo10U.S.Remote sensingDaniel Kan, Harsh Patel, Immad Akhund, Initialized Capital, James Park, Jetstream, Keith Masback, Kevin Mahaffey, Liquid 2 Ventures, Rebel Fund, Soma Capital, Tom Sheridan, TRAC

 

Hadrian9.5U.S.Aerospace manufacturingConstruct Capital, Floodgate, Founders Fund, Lux Capital

 

LiveEO6.3GermanyRemote sensing – downstream (infrastructure)

 

Andreas Kupke, btov Partners, DvH Ventures, Helen Ventures, Motu Ventures

 

Phantom Space5.0U.S.DiversifiedChenel Capital
Satellite Vu5.0UKRemote sensing (infrared)Seraphim, A/O PropTech, Ridgeline Ventures, Earth Science Foundation, E2MC Ventures, Stellar Solutions

 

Warpspace3.6JapanSatcomm (optical relay)

 

Space Frontier Fund, KSK Angel Fund LLC.
RBC Signals1.2U.S.Satcomm (ground)NA
Cosmic Shielding Corporation

 

1.0U.S.Spacecraft hardware (radiation protection)SpaceFund, Helios Capital, WorldQuant Ventures , Starbridge, others

 

Nitrexo0.6IrelandOther (engineering services)

 

ESA (grant)
Astrix Astronautics0.5New Zealand

 

Spacecraft hardware (power systems)

 

Outset Ventures, Icehouse Ventures, K1W1, Rocket Lab

 

Dynaspace0.5NorwayRemote sensing – downstream (aquaculture)

 

Planet 9 Venture, others
Share my Space0.3FranceSpace situational awareness

 

NA
Frontier Aerospace

 

NAU.S.Spacecraft hardware (propulsion)American Pacific
Gorilla LinkNAIsraelSatcomm (IoT PaaS)Techstars
Spaced VenturesNAU.S.Space venture capital (crowdfunding)

 

Morgan Brook, Helios, others
Raphael Roettgen; Photo courtesy of the author

Raphael Roettgen provides financial advice to and invests proprietary capital in space companies as a managing director and founder of E2MC. He also advises institutional investors and governments on space. Previously, Raphael has held senior roles at global investment banks and hedge funds and was also a fintech entrepreneur in Brazil. He holds degrees in finance from Wharton, machine learning from PUC-Rio and space studies from the International Space University, as well as the CFA and FRM charters.

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