– Fleet Space Technologies attracts $26.4m (USD) investment valuing company at $126m (USD)
– Series B Round oversubscribed
– Investment confirms confidence in Fleet Space advanced satellite technology
– Tech drives radical Internet of Things (IoT) efficiencies
– Investment is firm commitment to Australia’s rapidly emerging space industry
– Investment creates 70 new jobs, including many desirable STEM positions
ASSETS: All images can be downloaded from here
ADELAIDE, Australia, Nov. 17, 2021 /PRNewswire/ — Today Fleet Space Technologies secures $26.4m (USD) in Series B funding, confirming confidence in Fleet Space advanced nanosatellite technology set to drive radical Internet of Things (IoT) efficiencies.
Fleet Space Technologies. Centauri 4.
The Series B capital raise, which secures a valuation of the company at $126 million (USD), is led with follow-on money from Artesian Venture Partners, Blackbird Ventures, Grok, and Horizons Ventures with major commitments from new investors including Alumni Ventures, Hostplus, the South Australian Venture Capital Fund (SAVC) and In-Q-Tel. The balance of new institutional investors and reinvestment from existing investors is testament to successful execution of Fleet Space’s commercial and technical plans since the company’s Series A raise in September 2019.
Flavia Tata Nardini, CEO and Founder, Fleet Space Technologies, says, “This investment secures the long-term sustainable growth of Fleet Space and is a global endorsement of the power of the rapidly growing Space technology sector. Our nanosatellite technology is proven and this capital injection is testament to confidence in our commercial model. We are ready to scale and realise the full potential of IoT technology to secure planet-wide coverage of millions of industrial devices. This will save billions of dollars for organisations in lost value while preserving precious resources and reducing carbon emissions.”
Jonathan Meltzer, Partner at Alumni Ventures, adds, “Fleet Space Technologies has delivered on their promise to unlock the potential of the Internet of Things through their proprietary nanosatellite technology. We are proud to be part of an ambitious new growth phase that will widen Fleet’s satellite network and more broadly serve critical infrastructure in remote locations.”
Niki Scevak, Partner at Blackbird, says, “Fleet’s ambition, grit and ability to deliver has impressed us from day one and continues to impress us today. Flavia and the team have shown incredible progress and we’re excited to back their continued growth with this latest round.”
The Series B represents not just a firm commitment to Fleet Space Technologies, but a firm commitment to Australia’s rapidly emerging space industry, representing the creation of 70 new jobs, including many desirable science, technology, engineering and maths (STEM) positions.
Notes to Editors:
FLEET SPACE TECHNOLOGIES:
Fleet Space Technologies is Australia’s leading space company. It operates from a state-of-the-art HQ in Adelaide, South Australia, a region rapidly emerging as a global centre of excellence in space and advanced aerospace technologies. The company has designed, built and launched the country’s only commercial NanoSatellites and has six satellites already in orbit as it works towards a mission towards building a constellation of 140 small satellites in Low Earth Orbit.
Donate To The Indian Sun
Dear Reader,The Indian Sun is an independent organisation committed to community journalism. We have, through the years, been able to reach a wide audience especially with the growth of social media, where we also have a strong presence. With platforms such as YouTube videos, we have been able to engage in different forms of storytelling. However, the past few years, like many media organisations around the world, it has not been an easy path. We have a greater challenge. We believe community journalism is very important for a multicultural country like Australia. We’re not able to do everything, but we aim for some of the most interesting stories and journalism of quality. We call upon readers like you to support us and make any contribution. Do make a DONATION NOW so we can continue with the volume and quality journalism that we are able to practice.
Thank you for your support.
Best wishes,
Team The Indian Sun
