Seraphim Space injects a fresh $23.1 million into Skylo Technologies
Seraphim Space Investment Trust has invested an additional $23.1 million in satellite connectivity company Skylo Technologies, funding the investment from a £137 million C-share issue.
According to the Dealroom platform, London-based Seraphim Space has invested an additional $23.1 million in Skylo Technologies as part of a late-stage funding round announced on Monday.
The fund first backed the Mountain View, California-based company in 2023, and funded the latest investment from the proceeds of a C-share issue that recently raised around £137 million.
Skylo operates as a connectivity partner for mobile network operators, device manufacturers, and chip providers within non-terrestrial networks that connect satellites directly to user devices.
Seraphim Space shares rose 1.7% to 208.00 pence in London on Monday morning, which matters to investors in the region as global investment funds bet on the expansion of direct-to-cell connectivity as a major upcoming driver in the telecommunications sector.
What do these terms mean?
Late-stage funding round: An additional investment in a startup after its early rounds, aimed at supporting its growth prior to an initial public offering (IPO).
C-share issue: A type of share issuance launched by certain funds to raise new capital without altering the original share class.
Non-terrestrial networks: A communication architecture that relies on satellites to transmit data instead of depending solely on traditional ground-based towers.
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