Press release -
Eutelsat Group confirms participation in latest round of fund-raising by Seraphim Space, the global leader in SpaceTech investment
Paris, 17 June 2024 – Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), confirms its participation in Seraphim Space’s second VC fund, SSV II. Eutelsat’s investment aims to foster technological innovation within the space sector, supporting dynamic start-ups in Seraphim’s portfolio.
Through this partnership, Eutelsat Group and Seraphim will support the development of advanced capabilities to meet the growing market demand for global connectivity, Earth observation, and advanced data services. The investment underscores Eutelsat Group’s dedication to remaining at the forefront of innovation and supporting emerging technologies that will transform the space industry.
SSV II, will have a particular focus on the application of Artificial Intelligence (AI) to space data, in-orbit computing and space-enabled communications.
Eutelsat Group and Seraphim Space are eager to begin this promising collaboration, paving the way for new advances in the space domain and beyond.
“We are excited to invest into Seraphim Space, a leading global player in space technology investment. This partnership allows us to closely engage with groundbreaking companies, enhancing our capacity to innovate and deliver next-generation connectivity solutions. We look forward to working with Seraphim and its portfolio of start-ups to shape the future of satellite communications and space services.” said Guillaume Scottez, Chief Innovation Officer at Eutelsat Group.
Mark Boggett, CEO of Seraphim Space, commented: “We are thrilled to strengthen Seraphim Space’s heavyweight industry and corporate backing with the addition of Eutelsat Group, a trailblazer in satellite communications and a strong advocate for NewSpace. We are looking forward to working together to amplify our ability to support pioneering space companies that are driving significant advancements in the space sector. Together, we are well-positioned to support the next wave of innovation in satellite infrastructure, services and beyond.”
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About Seraphim
Seraphim Space is a leading venture capital fund specialising in space technologies. It supports innovative companies that are transforming the space industry and addressing global challenges through advanced technological solutions. Seraphim's investment portfolio spans various sectors, including satellite communications, Earth observation, robotics, and data analytics, focusing on driving forward the New Space economy.
About Eutelsat Group
Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 36 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group’s unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL)
Find out more at www.eutelsat.com
Media enquiries
Joanna Darlington
Tel. +33 674 521 531
jdarlington@eutelsat.com
Anita Baltagi
Tel. +33 643 930 178
abaltagi@eutelsat.com
Katie Dowd
Tel. +1 202 271 2209
kdowd@oneweb.net
Investors
Joanna Darlington
Tel. +33 674 521 531
jdarlington@eutelsat.com
Hugo Laurens Berge
Tel. +33 670 80 95 58
hlaurensberge@eutelsat.com
DISCLAIMER
The forward-looking statements included herein are for illustrative purposes only and are based on management’s views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.
