- Isotropic Systems completes an industry and financial
backed funding round, including UK government support through the
Government's Future Fund, equity participation through global
strategic investors, venture capital and UK grant funding support
awarded by the UK Space
Agency
- Attracting strategic investor support from industry
leaders Boeing HorizonX Global Ventures, SES and UK Government
complemented by investment from deep-tech venture capital firm
Promus Ventures through its Luxembourg based space investment fund,
Orbital Ventures
- Secures commercialisation of Isotropic's next-gen
ground antennas designed to vastly improve connectivity across the
satellite ecosystem
- New UK site dedicated to technology and testing
operations to add hundreds of STEM roles in the UK
LONDON, Feb. 8, 2021 /PRNewswire/ -- Isotropic Systems, a
leading developer of transformational broadband terminal
technologies, announces that is has fully secured funding of over
$40 million providing the
necessary capital required to develop its game-changing multi-beam
antennas.
The round brings together equity and grant funding support from
the UK Government and market leaders in Aerospace and
Telecommunications. SES led the round, along with participation
from specialised space investors Orbital Ventures, UK government's
Future Fund and existing investors Boeing HorizonX Global Ventures,
Space Angels and Firmament Ventures. Demand for the
oversubscribed round was driven by recent development contracts for
Isotropic Systems' transformational terminal, advanced over-the-air
testing, and the accelerated development and roll-out of its phase
one terminal expected early 2022.
With funding in place, Isotropic Systems plans to accelerate its
production phase in time to support new constellations and
satellites launching in all satellite orbits from 2022 onwards.
Isotropic will also open a 20,000 sq. ft. technology and testing
facility near the company headquarters in Reading, UK, and will see the company create
an additional 150 highly skilled engineering roles to the UK over
the next two years.
Isotropic Systems' patented radio frequency optics technology
enables the high-performance multi-beam antenna to simultaneously
link with multiple satellites in multiple orbits without any
compromise in the performance of each link. This industry first
unlocks the global satellite ecosystem for unprecedented
connectivity across a broad range of markets, including government,
defense, maritime, enterprise, and aerospace. With multiple new
space constellations being launched by organisations including
OneWeb, Inmarsat, Intelsat, SpaceX, Amazon, SES and Telesat,
innovation in space needs to be matched by innovation on the ground
and air.
"Isotropic Systems is extremely well positioned to unlock a new
age of high-powered, multi-orbit connectivity with our next-gen
multi-beam antenna," said John
Finney, Isotropic Systems Founder and CEO. "As one
satellite constellation after another is announced for launch in
future years, our technology is unique in that it allows service
providers and end users to take the best of the many thousands of
satellites going into orbit using a single
integrated terminal, unlocking the demand for the satellite
industry as a whole, radically changing the way bandwidth services
are delivered to end-users and vastly exceeding the capability of
any single satellite system. This unique, cost-effective solution
has allowed us to attract world class investment support from our
industry, which in turn will allow us to unlock significant export
revenue for the UK economy and across the satellite sector. As we
grow our UK-based team, collaborative partnerships and
capabilities, we are proud to support tech innovation in the UK to
solve connectivity challenges across a broad range of key vertical
and geographical markets around the world."
UK Science Minister, Amanda Solloway MP said: "The
UK space sector is thriving and with connectivity never having been
more important, it's vital we support pioneering companies like
Isotropic Systems who are tapping into the benefits that space
technology can bring us all on Earth. Backed by UK government,
these new multi beam antennas will improve connectivity for us all
at home, and for emerging technologies such as driverless cars,
while helping to create 150 highly skilled UK jobs as we build back
better."
SES CEO Steve Collar: "At
SES, we believe in doing the extraordinary in space to deliver
amazing experiences on earth and delivering amazing experiences
requires innovation across the ecosystem. That's why we are
building our next-generation system, O3b mPOWER, together with
innovators like Isotropic Systems. Isotropic's multi-beam antenna
plays an important role in our multi-orbit strategy and is a key
enabler for advanced satellite services on land, in the air and at
sea. Our investment reflects the potential that we believe this
breakthrough technology has for SES and for the industry as a
whole."
Brian Schettler, Senior
Managing Director, Boeing HorizonX Global Ventures: "Our
continued investment in Isotropic Systems, underlines our
commitment to strengthening the global satellite ecosystem. The
development of Isotropic's unique RF optical technology will
further accelerate the expansion of space-based connectivity to
meet the growing demand for satellite data, transportation and
mobility connectivity, and broadband services."
According to Orbital Ventures/Promus Ventures, Partner
Gareth Keane, "At Promus
Ventures, we invest in early-stage deep-tech companies with
exceptional teams and ground-breaking ideas and technologies, and
Promus Ventures is excited to support Isotropic Systems through our
space-focused Orbital Ventures fund. Constellations and launch
companies are already getting a lot of attention with their
disruptive products and services and now key areas such as ground
segment connectivity are likely to attract the next wave of
investment, and this UK company is leading the charge."
About Isotropic Systems
With offices in the UK and
U.S., Isotropic Systems is developing the world's first
multi-service, high-bandwidth, low power, fully integrated high
throughput terminals designed to support the satellite industry to
'reach beyond' traditional markets and acquire new customers with a
full suite of high throughput services. The company's team of
industry experts and scientists has pioneered several firsts in
satellite terminal design resulting in a line of terminals that are
customizable to meet the performance, cost and power requirements
of countless applications – from the most complex government
defense systems and mobile backhaul solutions capable of extending
5G, to next-gen connected experiences aboard commercial airliners,
cruise ships, offshore rigs, and even small fishing boats at sea.
Further information is available at
www.isotropicsystems.com
Photo -
https://mma.prnewswire.com/media/1434622/Isotropic_Infographic.jpg
Photo -
https://mma.prnewswire.com/media/1434037/Isotropic_Systems_Terminal.jpg
Logo -
https://mma.prnewswire.com/media/808814/Isotropic_Logo.jpg