12th Oct 2026 09:30
(Alliance News) - Seraphim Space Investment Trust PLC on Monday said it increased its invetment in an existing portfolio company.
The London-based investor in 'SpaceTech' companies said it injected a further USD23.1 million into Mountain View, California-based investee Skylo Technologies Inc. Seraphim Space said the new backing was funded from proceeds of its recent GBP137 million C share issue.
Skylo is a connectivity partner to mobile network operators, device manufacturers and chipset providers.
Andre Ronsoehr, an investment partner at Seraphim Space Manager LLP, said: "We are pleased to make this further investment in Skylo, a company we first backed in 2023. Since then, non-terrestrial network connectivity has moved rapidly from a specialist capability towards becoming an integral part of the broader communications ecosystem."
He added: "Skylo’s strong management team and relationships across the communications ecosystem position the company well as terrestrial and non-terrestrial networks converge and direct-to-device connectivity grows. This additional investment reflects our conviction in Skylo and demonstrates SSIT’s ability to back promising businesses early and increase its exposure as they scale and mature."
Seraphim Space Manager is the trust's investment manager.
Seraphim Space shares were up 1.7% to 208.00 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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