Swiss Astrocast seeks €45.5 million placement and stock listing

Paris, 24 June 2021. – The Swiss nanosatellite startup Astrocast seeks as much as €45.5 million in a private placement ahead of a direct listing on the stock market, Bloomberg reported.

The company, which is backed by venture capital firm Adit Ventures, Airbus SE’s venture arm and the European Space Agency (ESA), is planning a direct listing of 30% to 40% of its shares in the third quarter, executives said in an interview, according to Bloomberg.

Astrocast runs a Satellite IoT (Intenet of Things) network of 80 nanosatellites around the globe, providing “a comprehensive direct-to-orbit service that includes the most advanced nanosatellites and communication modules, and enterprise-class services”, the company based in Lausanne says on its website.