Kleos Space Raises Additional $13.8M in Funding
Kleos Space raised an additional $13.8 million (11.7 million euros) in funding, the company revealed last Wednesday. The money was raised from existing and new investors, and the round was managed by Bell Potter Securities and Evolution Capital Advisors.
This news follows the launch of the Kleos Scouting Mission (KSM1) satellites aboard India’s Polar Satellite Launch Vehicle (PSLV), which took place on Nov. 7. This additional funding will help Kleos launch its second cluster of satellites, Polar Vigilance Mission (KSF1), in mid-2021. The company will also develop a third cluster of satellites (KSF2), which aims to be in orbit before the end of 2021.
Kleos CEO Andrew Bowyer commented: “We welcome and are delighted to be supported by both existing and new high-quality institutional investors who have recognized the Kleos vision and potential. Strong participation and demand are a clear endorsement of that opportunity.”