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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.

Company US$m Country Subsector Investors
Sierra Space 1400 U.S. Diversified AE Industrial Partners, BlackRock Private Equity Partners, Coatue, General Atlantic, Moore Strategic Ventures

 

Hawkeye360 145 U.S. Remote sensing Adage 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

 

Astroscale 109 Japan Orbit services AXA 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 Space 55.6 China Remote sensing Dongguan Financial Holdings, Hengjian Holding, Oriental Fortune Capital, Qingchuang Bole Investment

 

Anuvu 50 U.S. Satcomm Apollo Capital Management, Arbour Lane, Sound Point Capital Management

 

Fleet Space 26.3 Australia Satcomm Alumni Ventures, Artesian VC, Blackbird Ventures, Grok Ventures, Horizons Ventures, Hostplus, In-Q-Tel

 

Satlantis 18.7 Spain Spacecraft components Axis, CDTI, Enagas, Orza Investments

 

GHGSat 16.1 Canada Remote sensing Sustainable Development Technology Canada (SDTC)

 

Inversion Space 10.0 U.S. Orbit services David Hodge, Embedded Ventures, FundersClub, Kyle Vogt, Liquid 2 Ventures, Spark Capital, Y Combinator

 

SpeQtral 8.3 Singapore Satcomm Xora Innovation
The Exploration Company 6.0 Germany Orbit services Cherry Ventures, Promus Ventures, Vsquared Ventures

 

Cognitive Space 5.7 U.S. Other N/A
Hydrosat 5.0 U.S. Remote sensing Cultivation Capital, Expon Capital, Freeflow Ventures, OTB Ventures, Santa Barbara Venture Partners

 

Overstory 3.8 Netherlands Remote sensing – downstream Alex Roetter, Bill Clerico, CapitalT, Climate Capital, Futuristic.vc, 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

 

Satsure N/A India Remote sensing – downstream Baring 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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