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Kleos Space secures funding for next two satellite clusters

Stephen Kuper

ASX-listed Kleos Space has confirmed the successful capital raising, delivering $19 million, which will enable the company to proceed with the development of its next two satellite clusters.

Kleos Space secures funding for next two satellite clusters
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The in-orbit commissioning phase now commences to prepare the satellites to collect data over crucial areas of interest such as the Strait of Hormuz, South China Sea, east/west Africa, Southern Sea of Japan, and the northern Australian coast e.g. the Timor Sea.

Andrew Bowyer, Kleos CEO, said, "We welcome and are delighted to be supported by both existing and new high-quality institutional investors who have recognised the Kleos vision and potential. Strong participation and demand are a clear endorsement of that opportunity following the successful launch of the Kleos Scouting Mission satellites (KSM1) on 7 November." 

After the deployment, the commissioning phase has commenced. The operations team have successfully made contact with all four satellites. It has been confirmed that they have detumbled, battery status is as expected and onboard watchdogs are operational.

"We are now well financed to execute the launch of the second cluster of satellites; Polar Vigilance Mission (KSF1) in mid 2021, and to develop our third cluster of satellites (KSF2) targeted to be in orbit before the end of 2021," Bowyer added. 

Kleos has engaged over 100 worldwide active B2G and B2B opportunities across its pipeline in international jurisdictions including the US, UK, Latin America, Middle East, south Pacific and Australia, representing significant annual revenue following launch and commissioning.

This second mission will be named Polar Vigilance Mission and is a cluster of four satellites, launching into a sun synchronous orbit. The Polar Vigilance Mission will enhance the company’s RF geolocation data delivered by the Kleos Scouting Mission by covering areas north and south of the Scouting Mission 37-degree inclined orbit, in addition to increasing overall coverage time in the equatorial region and increasing revenues.

Kleos Space is a space enabled, activity-based intelligence, data-as-a-service company based in Luxembourg. Kleos Space aims to guard borders, protect assets and save lives by delivering global activity-based intelligence and geolocation as a service.

The first Kleos Space satellite system, known as Kleos Scouting Mission (KSM), will deliver commercially available data and perform as a technology demonstration. KSM will be the keystone for a later global high capacity constellation. 

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