A British space surveillance company which has won a string of government contracts will this week announce a \u00a35.4m fundraising to expand its global network of advanced telescopes.<\/p>\n
Sky News understands that Spaceflux, which was founded three years ago, has secured the injection of capital in a round led by the UK Innovation & Science Seed Fund (UKI2S), which is managed by Future Planet Capital, as well as Foresight Group and Blackfinch Ventures.<\/p>\n
Seraphim Space, the listed specialist investor in space-related companies, is also contributing funding.<\/p>\n
Money blog: Renowned chef thinks luxury item should be wiped off menus<\/strong><\/a><\/p>\n Spaceflux uses artificial intelligence and optical sensors to track satellites and debris across all orbits, with its daylight tracking capability meaning it can expand the observation window beyond night-time operations.<\/p>\n Its provision of space situational awareness technologies is in growing demand amid warnings that a week-long disruption to satellite navigation could incur a \u00a37.6bn hit to the UK economy.<\/p>\n In a statement to Sky News, Marco Rocchetto, CEO and co-founder of Spaceflux, said: “As space becomes increasingly essential to our economy, environment and daily lives, it is also becoming more congested and contested.<\/p>\n “This investment strengthens our ability to protect satellite technology that delivers crucial insights to Earth around the clock, reducing collision risks, and supporting a safer, more sustainable space environment for future generations”.<\/p>\n The valuation at which the funding was being committed was unclear on Thursday.<\/p>\n Spaceflux, which serves government and commercial customers, has been the exclusive provider of geostationary satellite tracking for the Ministry of Defence and UK Space Agency since 2023.<\/p>\n Read more on Sky News:<\/strong>
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