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The Space Investor - 🚀 $SPIR To Reverse Split

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The Space Scoop
Week Ended 06.23.2023
Happy Friday! It was quite the busy week on the startup funding front during the holiday shortened week. Lets dive in.

Market Max-Q

Top Stories
1) Spire ($SPIR) shareholders voted to approve a reverse stock split.
  • At the 2023 Annual Meeting last week, investors voted for the inevitable: preservation of SPIR shares ability to trade on the NYSE.
     
  • The exact ratio and timing is to be determined later by the discretion of the Board of Directors, but is expected in the range of any whole number between 1-for-2 and 1-for-50.
     
  • No deadline was set for completion but SPIR received its first warning from the NYSE on March 24th. Therefore, it was given a 180-day notice so that puts us at or around late September to be completed.
2) AST SpaceMobile ($ASTS) confirmed 4G capabilities to everyday smartphones from space this week.
  • Using the AT&T ($T) spectrum and Nokia RAN technology, ASTS announced it connected to smartphones via its BlueWalker 3 (BW3) test satellite and recorded 4G LTE download speeds of 10.3 Mbps, with further testing of voice calls.
     
  • Company engineers conducted download speed tests in Hawaii during June using multiple off-the-shelf smartphones. ASTS continues evaluation of BW3’s capabilities as the enablement of 5G cues up as the next major test activity.

In Other News
Vyoma Raises €8.5M Seed Round  (Company)
The space situational awareness (SSA) and space traffic management (STM) startup announced the closure of its seed extension round, which Safran Corporate Ventures was co-investor. The capital will be used to accelerate growth and to explore sensor diversification and data fusion.

Digantara Raises $10M Series A1 Round (SpaceNews)
The India-based startup will start development of commercial space situational awareness (SSA) capabilities that will include data from spacecraft. The round was led by Peak XV Partners (also known as Sequoia Capital India). Several other investors participated including Kalaari Capital, which provided the $2.5M seed capital in 2021.

SCOUT Space Raises Oversubscribed Seed Round (Company)
The space safety and transparency startup will use the capital to accelerate hosted payload product line development. To date, SCOUT raised $5.5M+ in funding and this round was led by Decisive Point, with majority investment by Noblis Ventures and participation from Fusion Fund, Techstars, and VIPC.

Danti Raises $2.75M Pre-Seed Round (Payload)
Emerging from stealth, the newly founded startup is building an AI-driven search engine for earth observation data collected in space and other sources. The round was led by Tech Square Ventures, with participation from Radius Capital, Raven One Ventures, The SpaceVC, Overline, Tareyton Ventures, Jordan Noone, Keith Masback and Jeff Crusey.

Apex Raises $16M Funding Round (CNBC)
The LA-based satellite bus builder seeks to "build-to-production-slots" rather than "build-to-order" and plans to fly a demonstration mission on SpaceX’s Transporter-10 mission in Q1'24. The round was co-led by a16z and Shield Capital.

Continuum Space Systems Raises $3M Seed Round (Payload)
The cloud-based space logistics platform startup uses technology licensed from Caltech, which manages NASA’s Jet Propulsion Lab. The oversubscribed round was led by Prophetic Capital Partners, with participation from Mandala Space Ventures, Explorer1 Fund, Freeflow Ventures and Unlock Venture Partners.

Atmos Space Cargo Raises $4.3M Seed Round (TechCrunch)
The German-based startup is looking to open up the opportunities for life sciences research and manufacturing in orbit with return capsules that deliver cargo to Earth, or "microgravity on demand." The round was led by High-Tech Gründerfonds and the Amadeus APEX Technology Fund, with participation from Seraphim Space ($SSIT), E2MC, Ventis and another.vc.

Chart of the Week
VC Investment in Military Tech (Source)

Links
• Intelsat Ends Merger Talks With Rival Satellite Communications Giant SES

• Rocket Lab ($RKLB) Debuts HASTE Rocket With First Successful Suborbital Launch From Virginia

• Sidus ($SIDU) and Maris-Tech ($MTEK) Announce Agreement for AI Driven Space Ultra-HD Video System

• Mynaric ($MYNA) Selected by Raytheon ($RTX) To Supply Optical Communications Terminals for SDA T1TL Program

• Sidus ($SIDU) Awarded Two Innovation Partnership Contracts With Maris-Tech ($MTEK) and Lulav Space

• Rocket Lab ($RKLB) To Launch Space Object Monitoring Mission for Spire ($SPIR) & NorthStar

• Rocket Lab ($RKLB) To Launch Multiple Satellites as Part of Upcoming Recovery Mission

• Safran and Terran Orbital ($LLAP) Sign MOU To Produce Satellite Electric Propulsion Systems

Opinion
• The Space Industry Is Heading for Consolidation

• The Space Race May Already Be Won

• What the Wreck of the Titan Portends for Commercial Spaceflight

• When Big Finance Enters the Space Industry

• Rocket Lab ($RKLB): Stellar Innovation, Stock on Hold
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