Luxembourg-based Kleos Space raised $13.8 million following the Nov. 7 launch of its first cluster of radio frequency mapping satellites.
SAN FRANCISCO – Luxembourg-based Kleos Space raised $13.8 million following the Nov. 7 launch of its first cluster of radio frequency mapping satellites.
“Kleos is now well financed to execute the launch of the second cluster of satellites, Polar Vigilance Mission in mid-2021, and to develop its third cluster of satellites, targeted to be in orbit before the end of 2021,” according to a Nov. 11 news release.
Kleos Space launched four cubesats Nov. 7 on an Indian Polar Satellite Launch Vehicle (PSLV). Initial satellite commissioning work “is progressing according to schedule,” according to the news release.
Kleos Space, founded in 2017, plans to Kleos Space establish about ten four-satellite clusters to geolocate radio frequency signals and pinpoint the location of the sources. The company plans to sell data subscriptions to government and commercial customers.
“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,” Kleos CEO Andrew Boyer said in a statement. “Strong participation and demand are a clear endorsement of that opportunity”.
Kleos Space originally planned to launch its first satellite cluster on a Rocket Lab flight in 2018. A bridge loan from Dubai-based Winance helped to keep the company funded through its recent PSLV launch arranged by Spaceflight.