RCS - Seraphim Space I.T. - SpaceTech Sector Newsletter – March 2024

Seraphim Space Investment TrustAnnouncement

03/04/2024 07:15

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RNS Number : 0421J  Seraphim Space Investment Trust PLC  03 April 2024

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

SpaceTech Sector Newsletter - March 2024

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 March 2024.

SSIT Update

SSIT released its interim results for the period ended 31 December 2023, which
reflected NAV per share of 94.57, up 1.8% from 92.9p as at 30 June 2023. The
period was marked by continued positive trajectory for both SSIT's portfolio
as well as the wider SpaceTech ecosystem. SpaceTech investment activity
continued to outperform the wider venture capital market, reflecting the
strong fundamentals that are driving ever-growing traction for top-performing
SpaceTech companies. Record numbers of SpaceTech venture capital investments
have been closed during recent quarters, with the six months ended 31 December
2023 having seen a notable recovery in levels of growth funding rounds - an
encouraging sign for prospects in 2024. [Read more]
(https://investors.seraphim.vc/wp-content/uploads/2024/03/3131_Seraphim-IT-Interim-Report_Spread.pdf)

Portfolio Update

SpaceX launches 53 new satellites, including satellites from SSIT portfolio
companies Spire, ICEYE, Ubotica and Hubble Network

On the 4 March 2024, SpaceX launched 53 payloads on the Falcon 9
Transporter-10 smallsat rideshare mission, SpaceX's first rideshare mission of
2024. This was the tenth dedicated rideshare mission organised by SpaceX. This
mission included four Spire Global satellites ,which were launched to enhance
global coverage for Myriota (https://www.linkedin.com/company/myriota/) , and
fellow SSIT portfolio company Hubble Network
(https://www.linkedin.com/company/hubblenetwork/) . The satellites will
provide secure, low-cost and reliable IoT connectivity, improved security,
faster data access and enhanced device control capabilities. ICEYE has already
made significant strides in satellite deployment, with 34 SAR satellites
launched since 2018. The latest launch was a success with successful
communication establishment made with all three ICEYE SAR satellites launched.
Ubotica Technologies successfully launched its ground-breaking CogniSAT-6
mission. CogniSAT-6 will revolutionise earth observation by providing
actionable live earth intelligence for real-time decision-making. [Read more]
(https://www.satellitetoday.com/launch/2024/03/05/spacex-launches-53-satellites-in-first-rideshare-mission-of-2024/)

ICEYE unveils a new ocean vision product line

Finnish SAR company ICEYE announced a new family of products that will use its
existing satellite constellation to help customers locate, track and
characterise assets at sea. The first product, called ICEYE Ocean Vision
Detect, uses synthetic aperture radar (SAR) data and machine learning
algorithms to give customers data on the presence, location and size of ships
in a specific region to help them take action. ICEYE US CEO Eric Jensen said
demand for maritime data has increased significantly, especially over the past
two years. [Read more]
(https://payloadspace.com/iceye-unveils-ocean-vision-product-line/?oly_enc_id=6688C9247356A4P)

Spire Global to enhance AI-driven weather prediction in collaboration with
NVIDIA

Spire Global, (https://spire.com/) a global provider of space-based data,
analytics and space services, announced a collaboration with NVIDIA to advance
AI-driven weather prediction. Through this collaboration, Spire's radio
occultation (RO) data and proprietary data assimilation (DA) capabilities will
be integrated with NVIDIA
(https://www.nvidia.com/en-us/high-performance-computing/earth-2/) Earth
(https://www.nvidia.com/en-us/high-performance-computing/earth-2/) -
(https://www.nvidia.com/en-us/high-performance-computing/earth-2/) 2
(https://www.nvidia.com/en-us/high-performance-computing/earth-2/) cloud
application programming interfaces (APIs) to leverage AI to accelerate climate
and weather predictions. The field of weather prediction is changing rapidly
due to advances in AI. Spire's multipurpose constellation of satellites,
utilising radio occulation technology, offers unmatched global coverage of
precise vertical profiles of temperature, pressure and humidity across the
globe, including under-observed areas and remote regions. By combining this
dataset and Spire's proprietary demand assignment (DA) analysis with NVIDIA's
advanced AI platforms and APIs, this collaboration aims to usher in a new era
of accuracy in weather forecasting. [Read more]
(https://www.reinsurancene.ws/spire-global-partners-with-nvidia-to-revolutionise-ai-driven-weather-prediction/)

Voyager Space celebrates its self-built payload Gambit on its first transfer
on the International Space Station (ISS)

In August 2023, Voyager's self-built payload, Gambit, was successfully
installed on its Bishop Airlock on the ISS, setting the stage for future
enhanced utilisation of the ISS. Leveraging its suite of external sensors,
Gambit aims to serve as a testing platform, demonstrating robotic transfer and
installation processes at external sites. This represents a major milestone,
enabling enhanced utilisation of the ISS - and in particular Voyager's Bishop
Airlock, which is the first permanent commercial platform added to the ISS.
Gambit's capabilities will also be instrumental in helping to prepare for
Starlab - Voyager's own future commercial space station. [Read more]
(https://voyagerspace.com/insights/gambit-payload-relocates/)

LeoLabs appoints commercial space executive Tony Frazier as its new CEO

LeoLabs, the leading provider of integrated solutions that persistently
monitor activity in space to reveal threats to safety and security, announced
Tony Frazier had been appointed as its new Chief Executive Officer. Tony
brings deep experience scaling businesses at the intersection of commercial
space and national security having previously been Executive Vice President
and General Manager of Maxar Technologies' $1bn revenue Public Sector Earth
Intelligence business that supported missions across the U.S. Government and
over 60 international customers. Tony will lead LeoLabs as it scales up to
become a critical mission partner for combined military space operations and
next generation space safety systems. His appointment comes as Co-Founder Dan
Ceperley transitions into a Chief Operating Officer role to extend LeoLabs'
technological lead. [Read more]
(https://www.prnewswire.com/news-releases/leolabs-appoints-commercial-space-executive-tony-frazier-as-its-new-ceo-302070577.html)

Altitude Angel partners with NATS Services to deliver integrated traffic
management

NATS Services, the commercial arm of the UK's leading air traffic control
provider, and Altitude Angel, a global leader in unified traffic management
(UTM) and creator of the 165-mile UK drone superhighway, have announced a
strategic commercial partnership that will revolutionise the way the sky is
managed for new airspace users. The combination of Altitude Angel's
GuardianUTM suite of technologies and NATS Services' leading airspace
management expertise will enable competitive and innovative services to
integrate new airspace users such as drones and flying taxis while maintaining
safe operations for its existing commercial aviation customers. [Read more]
(https://www.altitudeangel.com/news/nats-services-and-altitude-angel-partner-to-deliver-integrated-traffic-management-services-portfolio)

SpaceTech Sector News

SpaceX's Starship lifts off on third test flight

SpaceX's Starship vehicle lifted off on its third test flight on 14 March
2024, making significant progress compared to its first two by achieving most
of its planned test milestones. The Starship/super heavy vehicle lifted off
the company's Starbase site. While the mission did not achieve all its test
objectives, the company considered the launch successful. "What we achieved on
this flight will provide invaluable data to continue rapidly developing
Starship," it said in a statement. [Read more]
(https://spacenews.com/starship-lifts-off-on-third-test-flight/)

UK sets out plan to propel private investment into SpaceTech

The UK government published a plan that aims to drive further investment into
the SpaceTech sector as part of its goal to make the UK a 'science and tech
superpower by 2030'. In March 2023, the tech department published its space
industrial plan, building on the National Space Strategy (NSS) from 2021. The
UK space industry has been rapidly growing, with significant funding being
poured into the sector. [Read more]
(https://www.gov.uk/government/publications/space-industrial-plan/space-industrial-plan-from-ambition-to-action-advancing-uk-space-industry)

Japan has created a multi-billion fund to boost the space industry

Japan has established a multibillion-dollar Space Strategic Fund to help
develop the country's innovation, autonomy and international competitiveness
in space. Japan's cabinet approved a bill to establish a $6.7bn (1trn yen)
10-year fund for the Japan Aerospace Exploration Agency (JAXA) in November
2023, aimed at supporting development, technology demonstration and
commercialisation of advanced technologies in the space field. [Read more]
(https://spacenews.com/japan-creates-multibillion-dollar-space-strategic-fund-to-boost-space-industry/)

Conferences

·           SuperReturn US West: Seraphim Space CEO Mark Boggett is
speaking on 8 April 2024 in Los Angeles.  Details 
(https://informaconnect.com/superreturn-uswest/)

·           Space Symposium: Seraphim Space Managing Partner Rob
Desborough is speaking on 8 April 2024 in Colorado Springs.  Details 
(https://www.spacesymposium.org/)

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
 Mark Hankinson / Gavin Deane / Neil Coleman/ David Benda  +44 (0) 20 7545 8000
 J.P. Morgan Cazenove
 William Simmonds / Jérémie Birnbaum / 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 Premium Segment 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.

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

About Seraphim Space Camp Accelerator Ltd

Seraphim Space Camp 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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