The Seraphim Space Fund of venture capital, currently worth £50 million, is set to boost European small, medium and start-up companies developing space-based applications, services and technologies. The fund offers a springboard for all space technology, emerging products, applications and associated services that have been developed with ESA’s help. This includes software, hardware and integrated solutions for companies that use satellite data for a wide range of applications such as intelligent transport and smart cities, through to sectors including insurance, maritime, agriculture and oil and gas. The fund fits well with projects that have originated under ESA’s Advanced Research in Telecommunications Systems (ARTES) programme, but is also open to all developments that have been supported by ESA, including ESA-incubated companies. Seraphim fills the funding gap that often exists when a space company or start-up first enters the market and can provide expertise and access to customers, if required. The fund is targeting a final value of about £80 million during the second quarter of 2017 but has already opened for business and is ready to make investments.
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SOURCE: European Space Agency