RCS - Seraphim Space I.T. - SpaceTech Sector Newsletter - February 2026

Seraphim Space Investment TrustAnnouncement

04/03/2026 07:02

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RNS Number : 2123V  Seraphim Space Investment Trust PLC  04 March 2026

SERAPHIM SPACE INVESTMENT TRUST PLC
(the "Company" or "SSIT")

SpaceTech Sector Newsletter - February 2026

Science fiction to science fact

Seraphim Space Investment Trust plc (LSE: SSIT), the world's first listed
SpaceTech investment company, publishes its monthly RNS Reach newsletter to
provide updates, based on publicly available information, on the Company's
portfolio investments, its Manager (Seraphim Space Manager LLP (the "Manager"
or "Seraphim Space")) and the wider SpaceTech market. The following newsletter
covers February 2026.

Portfolio Update

Tomorrow.io raises $175m at over $1bn valuation to build AI-driven weather
satellite network

Tomorrow.io raised $175m in equity financing at over a $1bn valuation to
accelerate deployment of DeepSky, its AI-native weather satellite
constellation. DeepSky is designed as a proliferated low Earth orbit (LEO)
system to increase revisit rates, expand coverage in data-sparse regions and
enable faster refresh cycles for global and regional forecast models.
Tomorrow.io has already launched 13 satellites in its first constellation and
more than 250 organisations use its real-time weather intelligence platform.
[Read more
(https://www.tomorrow.io/blog/tomorrow-io-announces-175m-financing-to-deploy-deepsky-the-worlds-first-ai-native-weather-satellite-constellation/)
]

SatVu raises £30m ($38m) in NATO-backed funding round

SatVu has secured £30m ($38m) in new funding, including backing from the NATO
Innovation Fund and the British Business Bank, to scale its thermal
intelligence satellite constellation. SatVu's 3.5m-resolution thermal imagery
captures heat signatures day and night to detect operational changes around
buildings and critical infrastructure for defence and government users. SatVu
has two satellite launches planned in 2026 and three more under contract.
[Read more
(https://www.uktech.news/defence-tech/thermal-intelligence-company-raises-30m-in-nato-backed-round-20260218)
]

D-Orbit and ELT Group sign Saudi space cooperation framework

D-Orbit and ELT Group have signed a strategic cooperation framework to pursue
joint space activities aligned with Saudi Arabia's Vision 2030 industrial and
technology goals. The agreement aims to create a structured basis for
long-term collaboration and localisation in Saudia Arabia. ELT Group
specialises in Electronic Warfare (EW) systems for defence, while D-Orbit
provides space logistics and in-orbit servicing capabilities. [Read more
(https://www.eltgroup.net/media/press-release/elt-group-and-d-orbit-signed-a-strategic-cooperation-framework-in-support-of-saudi-vision-2030-objectives/)
]

Voyager expands Starlab ecosystem with other Seraphim Space associated
companies

Voyager Technologies (NYSE: VOYG) signed a memorandum of understanding with
ATMOS Space Cargo, a Seraphim Space Ventures II portfolio company, to
integrate free-flying orbital cargo and controlled return services into its
mission management offering. Under the agreement, Voyager Europe will act as
integration partner, while ATMOS will provide return-capable vehicles to
support end-to-end microgravity missions from launch through to re-entry.
[Read more
(https://www.businesswire.com/news/home/20260216567666/en/Voyager-and-ATMOS-Accelerate-Access-to-Space)
]

Separately, Voyager's next-generation commercial space station, Starlab, will
host in-orbit manufacturing for Seraphim Space Ventures II portfolio company
LambdaVision. LambdaVision has reserved commercial payload space on Starlab to
scale production of its protein-based artificial retina. By leveraging
microgravity, the company can improve the layer-by-layer formation of thin
protein films, enhancing uniformity and performance compared with Earth-based
manufacturing. This reservation supports LambdaVision's commercial roadmap as
the International Space Station (ISS) approaches retirement. [Read more
(https://voyagertechnologies.com/press-releases/lambdavision-books-commercial-space-in-low-earth-orbit-with-starlab-space-and-voyager-technologies/)
]

Voyager's Starlab has also partnered with Auxilium Biotechnologies to provide
orbital 3D bioprinting and biofabrication capabilities aboard the station.
Auxilium's AMP-1 platform has previously demonstrated production of
implantable medical devices and other complex structures in microgravity on
the ISS, such as perfusable blood vessels. [Read more
(https://voyagertechnologies.com/press-releases/starlab-space-and-auxilium-biotechnologies-to-advance-life-sciences-research-in-microgravity/)
]

Xona and Furuno partner on low Earth orbit PNT services

Xona and Furuno Electric have signed a memorandum of understanding to develop
LEO Positioning, Navigation and Timing (LEO PNT) solutions. LEO PNT uses a
constellation of satellites in LEO to provide positioning and timing services
similar to Global Navigation Satellite Systems (GNSS) but with stronger
signals and improved resilience. Xona is a pioneer in PNT technology and its
Pulsar service is designed to complement or back up GNSS, including in
environments affected by jamming or spoofing, significantly enhancing
performance. [Read more
(https://www.gpsworld.com/furuno-and-xona-space-systems-sign-mou-to-develop-innovative-leo-pnt-solutions/)
]

Skylo advances hybrid satellite IoT with GCT and Vodafone partnerships

Skylo has partnered with GCT Semiconductor Holding, Inc. (NYSE: GCTS) to
accelerate certification of chips and modules enabling satellite
Non-Terrestrial Network (NTN) connectivity for next-generation cellular
Internet of Things (IoT) devices. NTN refers to satellite communications
aligned with terrestrial telecommunications standards that complement
terrestrial mobile networks, allowing devices to connect via satellite when
ground coverage is unavailable. [Read more
(https://www.businesswire.com/news/home/20260211325268/en/GCT-Semiconductor-Partners-with-Skylo-to-Accelerate-Global-Satellite-Connectivity)
]

Separately, Vodafone IoT is working with Skylo to integrate satellite
narrowband IoT (NB-IoT) into its global IoT services. The partnership will
allow devices to roam between terrestrial cellular networks and Skylo's
satellite network, with trials under way ahead of a potential commercial
rollout. The hybrid model is designed to extend coverage into remote areas
while improving resilience in cases of network outages or congestion. [Read
more
(https://www.datacenterdynamics.com/en/news/vodafone-iot-and-skylo-announce-partnership-to-integrate-satellite-nb-iot/)
]

AST SpaceMobile deploys BlueBird 6 and secures $30m US defence contract

AST SpaceMobile (NYSE:ASTS) successfully unfolded the 2,400 sq ft
communications array on its BlueBird 6 satellite in LEO, the largest
commercial array deployed in LEO. The satellite is designed to deliver 4G and
5G broadband directly to standard mobile phones, with peak data speeds of 120
Mbps claimed. AST plans to scale deployments, targeting 45-60 additional
satellites with launches every one to two months on average. [Read more
(https://www.satellitetoday.com/connectivity/2026/02/11/ast-spacemobiles-bluebird-6-array-successfully-unfolds-in-leo/)
]

Separately, the US Space Development Agency (SDA) awarded AST a $30m contract
under its Hybrid Acquisition for Proliferated Low Earth Orbit (HALO)
initiative. HALO is an Other Transaction framework intended to rapidly deliver
resilient, low-latency satellite communications to US military users. [Read
more
(https://www.mobileworldlive.com/ast-spacemobile/ast-wins-30m-us-sda-military-research-contract/)
]

SpaceTech Sector News

Seraphim Space exceeds $100m target for early-stage venture fund

Seraphim Space exceeded its $100m target for its latest early-stage venture
fund bringing assets under management to over $550m. Key investors include the
British Business Bank, National Security Strategic Investment Fund (NSSIF),
ArabSat and other strategic corporate backers. The fund has currently invested
in 17 pioneering SpaceTech companies, supporting innovations across defence,
climate, life sciences and next-generation space infrastructure. CEO Mark
Boggett said the fund strengthens Seraphim Space's ability to champion
breakthrough technologies shaping the global space economy. [Read more
(https://www.reuters.com/world/uk/uk-space-investment-company-seraphim-raises-more-than-100-mln-new-fund-2026-02-26/)
]

SpaceX acquires xAI, a strategic move in AI and SpaceTech

SpaceX acquired Elon Musk's AI startup, xAI, in an all-stock merger that
valued the combined enterprise at $1.25tn, with xAI valued at approximately
$250bn and SpaceX maintaining a $1tn valuation. The merger brings together
rockets, satellites and artificial intelligence under a single platform,
positioning the combined company as one of the world's most valuable privately
held companies. Musk has highlighted the potential for AI applications in
space-based infrastructure, exploring innovative ways to manage computational
and energy demands. The acquisition precedes a potential SpaceX IPO in 2026,
with the company's valuation projected to reach $1.75tn, further reinforcing
its leadership at the intersection of AI and SpaceTech. [Read more
(https://news.sky.com/story/elon-musks-spacex-buys-elon-musks-xai-13502553) ]

Media

Podcasts

·           Scaling SpaceTech and AI, the Infrastructure Moment:
Seraphim Space CEO Mark Boggett joined host Leah Martin to discuss how AI is
increasingly shaping the space sector, from scalable platforms and dual-use
technologies to capital flows and market structure. The episode explores the
implications of a potential SpaceX IPO, the convergence of AI and space
infrastructure and what this means for founders and investors as space becomes
core global infrastructure. [Listen here
(https://seraphim.vc/generation-space/podcast/scaling-ai-in-spacetech/) ]

·           Investment Uncut - Is Space a Serious Investment
Theme?:  Seraphim Space CIO James Bruegger discusses the growing investment
potential of SpaceTech, exploring industry drivers, risks and opportunities
for investors. He highlights that space is reaching a critical inflexion
point, comparable to the transformative impact of AI, and urges investors to
consider strategic exposure to this emerging megatrend. [Listen here]
(https://www.lcp.com/en/podcasts/investment-uncut-is-space-a-serious-investment-theme?utm_content=545217729&utm_medium=social&utm_source=linkedin&hss_channel=lis-kD9LtVVt3l)

·           Seraphim Space Past, Present, and Future - Building
Infrastructure in Orbit: Seraphim Space Investment Committee member Candace
Johnson speaks with Luca Rossettini, Founder and Chief Executive of D-Orbit.
They reflect on D-Orbit's development to date and discuss its ambitions as a
European operator focused on in-orbit logistics and manufacturing. [Listen
here (https://seraphim.vc/generation-space/podcast/infrastructure-in-orbit/)
]

·           Seraphim Space Past, Present, and Future - The
Commercial Space Station Era: Seraphim Space Investment Committee member
Candace Johnson speaks with the Chief Executive of Vast, Max Haot, about his
vision for the next generation of commercial space stations. The conversation
explores how private platforms could succeed the International Space Station,
which is scheduled for retirement in 2030. [Listen here
(https://seraphim.vc/generation-space/podcast/the-commercial-space-station-era/)
]

Conferences

·           Space-Comm Expo Europe: Seraphim Space CEO Mark
Boggett, SSIT Chair Will Whitehorn and Seraphim Space General Partner Rob
Desborough will be speaking in London on 4 and 5 March 2026. [Find out more
(https://space-comm.com/) ]

·           Tectonic Defence Summit: Seraphim Space Investment
Principal Lewis Jones will be speaking on 12 March 2026. [Find out more
(https://events.tectonicdefense.com/tectonic-defense-summit?utm_source=website&utm_medium=event-page)
]

·           SatShow Week 2026: Seraphim Space CEO Mark Boggett will
speak on 23 and 24 March 2026, including delivering the opening keynote for
the Finance Forum. [Find out more (https://www.satshow.com/) ]

·           Munich Space Summit: Seraphim Space General Partner Rob
Desborough will be speaking on 23 March 2026. [Find out more
(https://www.munich-space-summit.org/) ]

Other

Curation Connect - Explore SSIT: SSIT is now featured on Curation Connect, a
platform offering investors insights into SSIT's portfolio, growth strategy
and position within the global SpaceTech market. The profile showcases
Curation Connect's latest investment thesis on SSIT, highlighting its solid
foundations and role in the rapidly evolving space economy. [Learn more
(https://app.curationcorp.com/company/Seraphim-Space-Investment-Trust-97352?utm_source=ssit_newsletter)
]

Find out where to meet and hear from Seraphim Space's team by following its
social media, LinkedIn (https://www.linkedin.com/company/seraphim-space/) /
Twitter (https://twitter.com/seraphim_space?lang=en) .

Sign up to receive Seraphim Space's monthly newsletter directly to your inbox.
[Sign up]
(https://seraphim.us16.list-manage.com/subscribe?u=e0d06c32336837b2b89cf44ae&id=68130aa2bb)

Neither the Company's website nor the content of any website accessible from
hyperlinks in it or in this newsletter (or any other website) is (or is deemed
to be) incorporated into, or forms (or is deemed to form) part of, this
newsletter.

- Ends -

Media Enquiries

 Seraphim Space Manager LLP (via SEC Newgate)
 Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough
 SEC Newgate (Communications advisers)                     seraphim@secnewgate.co.uk (mailto:seraphim@secnewgate.co.uk)
 Emma Kane / Clotilde Gros / George Esmond                 +44 (0) 20 3757 6767
 Deutsche Numis
 Nathan Brown / Vicki Paine                                +44 (0) 20 7545 8000
 J.P. Morgan Cazenove
 William Simmonds / Rupert Budge                           +44 (0) 20 7742 4000
 Ocorian Administration (UK) Limited                       seraphimteam@ocorian.com
 Lorna Zimny                                               +44 (0) 28 9078 5880

Notes to Editors

About Seraphim Space Investment Trust plc

Seraphim Space Investment Trust plc (the "Company") is the world's first
listed fund focused on SpaceTech. The Company seeks exposure predominantly to
early and growth stage private financed SpaceTech businesses that have the
potential to dominate globally and that are sector leaders with first mover
advantages in areas such as climate, communications, mobility and cyber
security.

The Company is listed on the Main Market of the London Stock Exchange.

Further information is available at: https://investors.seraphim.vc
(https://investors.seraphim.vc) .

About Seraphim Space Manager LLP

Seraphim Space Manager LLP ("Seraphim Space" or the "Manager") is based in the
UK and manages Seraphim Space Investment Trust plc and Seraphim Space Ventures
II LP.

Further information is available at www.seraphim.vc (http://www.seraphim.vc) .

About Seraphim Space Accelerator Ltd

Seraphim Space Accelerator Ltd, an affiliate of Seraphim Space Manager LLP
based in the UK, established the Seraphim Space Accelerator in 2018 and has
developed it to become the world-leading VC-led accelerator with a focus on
SpaceTech. The accelerator programme brings in-depth industry expertise to get
Seed and Pre-Series A SpaceTech companies 'investment ready' while
facilitating relationships with some of the world's leading Space corporates
and agencies.

Further information is available at www.seraphim.vc (http://www.seraphim.vc) .

About Generation Space LLC

Generation Space LLC is the US subsidiary of Seraphim Space Manager LLP and is
responsible for its US activities. Generation Space LLC is an affiliate of
Seraphim Space Camp Accelerator Ltd and is responsible for delivery of the US
Generation Space Accelerator.

Further information is available at www.generation.space
(http://www.generation.space) .

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