Satellite tracker Spaceflux reaches lift-off with £5m funding boost

A British abstraction surveillance institution which has won a drawstring of authorities contracts volition this week denote a £5.4m fundraising to grow its planetary web of precocious telescopes.

Sky News understands that Spaceflux, which was founded 3 years ago, has secured the injection of superior successful a circular led by the UK Innovation & Science Seed Fund (UKI2S), which is managed by Future Planet Capital, arsenic good arsenic Foresight Group and Blackfinch Ventures.

Seraphim Space, the listed specializer capitalist successful space-related companies, is besides contributing funding.

Money blog: Renowned cook thinks luxury point should beryllium wiped disconnected menus

Spaceflux uses artificial quality and optical sensors to way satellites and debris crossed each orbits, with its daylight tracking capableness meaning it tin grow the reflection model beyond night-time operations.

Its proviso of abstraction situational consciousness technologies is successful increasing request amid warnings that a week-long disruption to outer navigation could incur a £7.6bn deed to the UK economy.

In a connection to Sky News, Marco Rocchetto, CEO and co-founder of Spaceflux, said: "As abstraction becomes progressively indispensable to our economy, situation and regular lives, it is besides becoming much congested and contested.

"This concern strengthens our quality to support outer exertion that delivers important insights to Earth astir the clock, reducing collision risks, and supporting a safer, much sustainable abstraction situation for aboriginal generations".

The valuation astatine which the backing was being committed was unclear connected Thursday.

Spaceflux, which serves authorities and commercialized customers, has been the exclusive supplier of geostationary outer tracking for the Ministry of Defence and UK Space Agency since 2023.

Alex Leigh, an concern manager astatine UKI2S, said: "This concern marks a important measurement successful the convergence of defence and space, wherever dual-use technologies are becoming progressively important to UK capability.

"Spaceflux's exertion offers captious insights to assistance show and safeguard orbital assets - supporting some nationalist information and the wider commercialized ecosystem.

"The institution is well-positioned to standard its interaction and conscionable the needs of customers navigating an progressively analyzable abstraction environment."