Isotropic Systems Secures UK Space Agency, ESA ARTES Program Funding
UK-based terminal developer Isotropic Systems received an investment of more than 18.5 million euros ($22.5 million) from the UK Space Agency to co-fund the company’s activity in the European Space Agency’s (ESA) Advanced Research in Telecommunications Systems (ARTES) C&G program.
The ARTES program gives European satcom companies the resources they need to turn concepts into satcom products and services. Isotropic Systems said the new investment, “ensures oversight of ESA’s experts and the technical integrity of Isotropic’s path to product launch in early 2022.”
“This important milestone contract with ESA demonstrates the potential of our revolutionary terminals and will secure our role in the near-term growth of the U.K. and global space market,” said Isotropic Systems’ CEO John Finney. “The level of support, expertise and technical oversight we receive from ESA, along with our recent fundraising, will enable us to scale our business to plan and help solve the world’s connectivity challenges across a range of applications and industries.”
U.K. Science Minister Amanda Solloway MP added, “The U.K. space sector is thriving and with connectivity never having been more important, it’s vital we support pioneering companies like Isotropic Systems who are tapping into the benefits that space technology can bring us all on Earth. Backed by U.K. government, these new multi beam antennas will improve connectivity for us all at home, and for emerging technologies such as driverless cars, while helping to create 150 highly skilled U.K. jobs as we build back better.”
This latest award adds to Isotropic Systems’ recent success in fundraising. In February, Isotropic Systems completed a funding round of more than $40 million from a consortium led by SES, and including investments from Orbital Ventures, the U.K. government’s Future Fund, Boeing HorizonX Global Ventures, Space Angels, and Firmament Ventures.