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

by Raphael Roettgen

Photo by NASA on Unsplash.

2021 finished strong, with another SPAC merger with a space-related (albeit not originally a space) company (Tomorrow.io), more fundraising by SpaceX, a few major private rounds, a couple of investments by Virgin Orbit (and hence yet further examples of a de-SPAC’d company deploying part of its cash towards investments) and even a small IPO (Sidus).

E2MC Ventures was part of the financing round of Space Forge, an in-space manufacturing firm, and if you are interested in learning more about that exciting business model, you can check out episode #39 of the Space Business Podcast, featuring their CEO & co-founder.

CompanyUS$mCountrySubsectorInvestors
Tomorrow.iomax. 420

(345 trust + 75 PIPE)

U.S.Remote sensingKoch Strategic Platforms, National Grid Partners, JetBlue Technology Ventures, SB Energy Corp., SoftBank, Pine Technology Sponsor
SpaceX337.4U.S.Diversified(35 investors)
Loft Orbital140.0U.S.Orbit servicesBlackRock, CEAS Investments, Uncork Capital, Foundation Capital, Ubiquity VC, others

 

Ursa Major85.0U.S.Spacecraft componentsAlpha Edison, Alsop Louie Partners, BlackRock, Dolby Family Ventures, Explorer 1 Fund, Harpoon, Space Capital, XN

 

Stoke Space65.0U.S.LaunchAlameda Research, Breakthrough Energy Ventures, Global Founders Capital, Liquid 2 Ventures, MaC Venture Capital, NFX, Point72 Ventures, Seven Seven Six, Spark Capital, Toyota Ventures

 

NorthStar45.0Canada / LuxembourgSSALuxembourg Future Fund, Telesystem Space, others

 

iQPS33.9JapanRemote sensingJSat

 

hiSky30.0IsraelSpacecraft componentsST Engineering Ventures Fund, Strategic Development Fund

 

SatRevolution30.0PolandSpacecraft components

 

Virgin Orbit
PLD Space28.3SpainLaunchAciturri, Arcano, Centre for the Development of Industrial Technology (CDTI)

 

ICEYE25.2Finland

 

Remote sensingSeraphim
Sidus Space15.0U.S.Spacecraft components & orbit services

 

(IPO)
Space Forge10.2UKOrbit servicesBristol Private Equity Club, Development Bank of Wales, Dylan Taylor, E2MC Ventures, FJ Labs,Helios Capital, Newable Ventures, Quiet Capital, SpaceFund, Starbridge, Type One, World Fund, others

 

Space BD9.2JapanOrbit ServicesANNIVERSAIRE, Incubate Fund, Mizuho Capital, Pavilion Capital, SMBC Venture Capital

 

Teren4.0U.S.Remote sensing – downstreamAllos Ventures, Ascent Energy Ventures

 

Kayhan Space3.7U.S.SSAInitialized Capital, Jacob Helberg, Overline VC, Root Ventures

 

Skykraft3.5AustraliaSpacecraft componentsAdcock Private Equity, Allan Moss, Lennoxgrove Capital

 

IBISA1.7LuxembourgRemote sensing – downstream

 

Insurtech Gateway, Rockstart
Psionic1.7U.S.Spacecraft components

 

N/A
Smallspark Space0.3UKLaunchDeepbridge
HypersatNAU.S.Remote sensingVirgin Orbit
Rocket PiNAChinaLaunchHainan Qianyi
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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