The ASX-listed company said the money had come from new and existing investors and would be used to grow its constellation and data-as-a-service products.
Kleos’ satellites geolocate radio frequency transmissions to help detect drug and people smuggling, border security challenges and illegal fishing for government and intelligence agencies.
Chief executive Andy Bowyer said the strong support the business has received reflects its “significant technical and commercial progress that is accelerating rapidly”.
The new investors are Perennial Value Management, an Australian owned, specialist, active investment management firm located in Sydney and Melbourne; and Thorney Investment Group, the private investment group of leading stock picker Alex Waislitz.
It came via a placement of nearly 15 million new CHESS Depositary Interests over Kleos ordinary shares (CDIs), valued at $0.85 per CDI (Placement).
Chess Depositary Interests or CDIs are instruments traded on the Australian Stock Exchange (ASX) that allow non-Australian companies to list their shares on the exchange.
Kleos Space launched its last mission in June to increase its satellite coverage over regions of key interest for government and intelligence agencies.
The Kleos Polar Vigilance Mission (KSFI) lifted off at Cape Canaveral Space Force Station in Florida, on board the Spaceflight SXRS-5/SpaceX Transporter-2 Mission.
The satellites were deployed into a 52-kilometre sun-synchronous orbit that will increase Kleos’ coverage over north and south regions from the company’s previous Scouting Mission satellites, into a 37-degree inclined orbit.
Kleos' previous launch in November 2020, Scouting Mission satellites, launched collective data over regions such as Strait of Hormuz, South China Sea, east/west Africa, Southern Sea of Japan, and the northern Australian coast.
The spacecraft launched on the PSLV-C49 from Satish Dhawan Space Centre (SDSC) SHAR, Sriharikota.
The company’s next cluster of three satellites, the Polar Patrol Mission (KSF2), is set to launch at the end of this year, also on board the Falcon 9.
This is in collaboration with Innovative Solutions in Space (ISISPACE), a Netherlands-based company experienced in design and manufacturing of nanosatellites.
Under the contract, ISISPACE will design, develop, produce and test launch the Polar Patrol mission into orbit, and will receive incremental payments of $3.86 million from Kleos.
Adam is a journalist who has worked for more than 40 prestigious media brands in the UK and Australia. Since 2005, his varied career has included stints as a reporter, copy editor, feature writer and editor for publications as diverse as Fleet Street newspaper The Sunday Times, fashion bible Jones, media and marketing website Mumbrella as well as lifestyle magazines such as GQ, Woman’s Weekly, Men’s Health and Loaded. He joined Momentum Media in early 2020 and currently writes for Australian Aviation and World of Aviation.
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