Thursday 8 July 2021 3:17 pm

Space investor Seraphim injects cash into two firms ahead of London float

Space technology investor Seraphim Capital has invested into two UK satellite and AI companies ahead of its London IPO float tomorrow, as the UK cements itself within the latest space race.

Investing £2m into firms Isotropic Systems, which operates satellite networks and Commodities AI, which deals with space data and artificial intelligence (AI), Seraphim is bolstering its market position ahead of its float.

Both investments will form part of Seraphim’s portfolio of 19 companies that are expected to be bought by Seraphim Space Investment Trust.

The London Stock Exchange has been welcoming tech floats with open arms recently, as Wise – which went public yesterday – saw its valuation swell to £8bn, the largest tech listing the capital’s market has ever seen.

It comes amid the world’s latest space race, outside of the Cold War, which has seen billionaires surpass states in their bid for the stars.

With the likes of billionaire Elon Musk’s space venture SpaceX and UK-based OneWeb already deploying satellite constellations for broadband connectivity, satellite connectivity is expected to soar in demand.