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

by Raphael Roettgen

Photo by NASA on Unsplash.

No SPAC mergers with space companies in November, but a blockbuster round of US$1.4 billion for Sierra Space. We also had ‘traditional’ public listings by Telesat and Mynaric (of ADSs).

It was also an interesting month on the M&A front with deals including Redwire / Techshot, Inmarsat / Viasat, Planet / VanderSat, and Rocket Lab / Planetary Systems Corp.

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 happen to speak German!) you may be interested in my book I recently published with SpaceWatch.Global – you can check it out here.

Sierra Space1400U.S.DiversifiedAE Industrial Partners, BlackRock Private Equity Partners, Coatue, General Atlantic, Moore Strategic Ventures


Hawkeye360145U.S.Remote sensingAdage Capital Management, Advance, Gula Tech Adventures, Insight Partners, Jacobs Ventures, New North Ventures, NightDragon Security, Razor’s Edge Ventures, Seraphim Capital, Shield Capital Partners, SVB Capital


Astroscale109JapanOrbit servicesAXA Life Japan, Chiba Dojo, DNCA Finance, Energy & Environment Investment, Innovation Engine, Japan Growth Capital Investment Corp., Opus Japan, preludecapital, Seraphim Capital, Solaris ESG Master Fund, THE FUND Limited Partnership, Yamauchi-No.10 Family Office, YS Investment


Ada Space55.6ChinaRemote sensingDongguan Financial Holdings, Hengjian Holding, Oriental Fortune Capital, Qingchuang Bole Investment


Anuvu50U.S.SatcommApollo Capital Management, Arbour Lane, Sound Point Capital Management


Fleet Space26.3AustraliaSatcommAlumni Ventures, Artesian VC, Blackbird Ventures, Grok Ventures, Horizons Ventures, Hostplus, In-Q-Tel


Satlantis18.7SpainSpacecraft componentsAxis, CDTI, Enagas, Orza Investments


GHGSat16.1CanadaRemote sensingSustainable Development Technology Canada (SDTC)


Inversion Space10.0U.S.Orbit servicesDavid Hodge, Embedded Ventures, FundersClub, Kyle Vogt, Liquid 2 Ventures, Spark Capital, Y Combinator


SpeQtral8.3SingaporeSatcommXora Innovation
The Exploration Company6.0GermanyOrbit servicesCherry Ventures, Promus Ventures, Vsquared Ventures


Cognitive Space5.7U.S.OtherN/A
Hydrosat5.0U.S.Remote sensingCultivation Capital, Expon Capital, Freeflow Ventures, OTB Ventures, Santa Barbara Venture Partners


Overstory3.8NetherlandsRemote sensing – downstreamAlex Roetter, Bill Clerico, CapitalT, Climate Capital,, Ilya Volodarsky, Justin Stevens, Mark Tercek, Moxxie Ventures, My Climate Journey Collective, Omidyar Technology Ventures, Overwater Ventures, Pale Blue Dot, Powerhouse Ventures, Shomik Dutta, Toba Capital


SatsureN/AIndiaRemote sensing – downstreamBaring Private Equity India, 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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