SpaceTech Sector Newsletter - June 2026

SERAPHIM SPACE INVESTMENT TRUST PLC (the "Company" or "SSIT")

SpaceTech Sector Newsletter - June 2026

Science fiction to science fact

Seraphim Space Investment Trust plc (LSE: SSIT), the world's first listed SpaceTech investment company, publishes its monthly RNS Reach newsletter to provide updates, based on publicly available information, on the Company's portfolio investments, its Manager (Seraphim Space Manager LLP (the "Manager" or "Seraphim Space")) and the wider SpaceTech market. The following newsletter covers June 2026. 

SSIT Update

SSIT joins FTSE 250 and marks milestone with London stock exchange market open

SSIT joined the FTSE 250 Index following the June 2026 annual index review, reflecting the Company's growth since its IPO and increasing institutional recognition of SpaceTech as an investable asset class. Inclusion is expected to enhance the Company's visibility, improve liquidity and broaden its shareholder base. To mark the milestone, SSIT opened the London Stock Exchange on 1 July 2026, recognising the Company's recent achievements and the continued growth of the Space Tech sector. [Read more]

Portfolio Update

ICEYE surpasses €10bn valuation on Series F funding, sovereign intelligence leadership and further operational momentum

ICEYE has raised €450m (c.$520m) in primary Series F funding, led by General Atlantic, at a valuation exceeding €10bn (c.$12bn). Including a secondary share sale, the total financing exceeded €1bn, backed by a global investor group including Nokia and the Qatar Investment Authority. The funding will accelerate the expansion of ICEYE's global footprint and sovereign intelligence capabilities as demand for space-based intelligence continues to grow. To date, seven European governments have procured sovereign satellite systems from ICEYE, making it the leading provider of sovereign intelligence from space. [Read more]

Further operational momentum for ICEYE includes:

· Additional sovereign satellite procurements from Portugal, reinforcing demand for sovereign Earth observation capabilities. [Read more]

· Selection for a nationwide flood monitoring contract with Norway's Water Resources and Energy Directorate, expanding the use of synthetic aperture radar (SAR) data for climate resilience. [Read more]

· A partnership with Iberdrola to develop satellite-enabled solutions to strengthen electricity grid resilience and critical infrastructure monitoring. [Read more]

· The launch of a parametric wildfire insurance solution with Liberty, expanding the use of satellite data to support climate risk assessment and insurance products. [Read more]

HawkEye 360 reports record $49.8m revenue, 116% growth and $285m backlog

HawkEye 360 (NYSE: HAWK) reported record first-quarter 2026 revenue of $49.8m, up 116.5% year-on-year, alongside record adjusted EBITDA of $7.4m and a contracted backlog of $285m, reflecting continued demand for its space-based radio frequency (RF) intelligence services. RF intelligence uses signals from communications and radar systems to detect and geolocate activity, supporting defence, maritime and national security missions. The company also announced more than $100m of new international contract awards year-to-date, successfully launched its Cluster 13 and 14 satellites to expand its RF constellation and completed its New York Stock Exchange listing, raising $435.9m to support future growth. [Read more]

LeoLabs expands global space tracking network with new mobile radar

LeoLabs deployed its first mobile Scout S tracking radar in the Asia-Pacific region, expanding its global Space Domain Awareness (SDA) network. The containerised system is designed for rapid deployment to monitor objects and activity in low Earth orbit, enhancing the company's ability to track manoeuvrable satellites and support the safety and security of increasingly congested orbital environments. [Read more]

LeoLabs also tracked on-orbit activity associated with a Chinese reusable spaceplane, including the detection of a newly released object on 22 June 2026. The event highlights the growing importance of independent, real-time space tracking as activity in orbit becomes increasingly complex. [Read more]

Xona partners with Murata to advance next-generation positioning technology

Xona signed a memorandum of understanding with Murata Manufacturing, one of the world's leading electronics component manufacturers, to develop next-generation satellite-based Positioning, Navigation and Timing (PNT) solutions. PNT systems provide the location and timing data that underpin communications, transport, financial networks and critical infrastructure. Xona's low Earth orbit Pulsar constellation is designed to complement existing Global Navigation Satellite Systems (GNSS) by providing stronger, more resilient and higher-precision positioning services. The collaboration will combine Murata's expertise in sensors and communications with Xona's space-based navigation technology to explore applications across 5G and 6G networks, financial systems and industrial infrastructure. [Read more]

Zeno Power expands manufacturing for next-generation nuclear batteries

Zeno Power announced operations at the Vallecitos Nuclear Center in California to manufacture radioisotope power systems (RPS), a microwave sized "nuclear battery" designed to provide modular long-duration power. RPS generate electricity from the natural decay of radioactive materials, making them well suited to space missions and undersea applications where solar power or conventional batteries are impractical. The facility will initially support government programmes before scaling production for commercial space applications from 2028. [Read more]

Voyager to acquire Astrobotic in $300m deal to expand lunar infrastructure

Voyager Technologies ($VOYG) has agreed to acquire lunar lander developer Astrobotic in a deal worth up to $300m, comprising cash, stock and earnout payments. Astrobotic develops lunar landers and related systems for NASA's Commercial Lunar Payload Services programme and is preparing to launch its Griffin lander later in 2026. Voyager says the acquisition will create a broader lunar infrastructure platform spanning landers, power systems and in-space technologies, strengthening its position to support future commercial and government missions as activity around the Moon continues to accelerate. The transaction is expected to complete in July 2026, subject to regulatory approvals. [Read more]

SpaceTech Sector News

SpaceX completes world's largest IPO, raising $85.7bn

SpaceX completed the largest IPO in history, raising $85.7bn, around $10bn more than originally expected following exceptionally strong investor demand. The listing briefly valued the company at more than $2 trillion, making it one of the world's largest listed companies. Since then, the shares have settled to trade around $145-160, still comfortably above the $135 IPO price, as investors assess the company's long-term growth prospects. SpaceX also completed its inaugural $25bn bond issuance to refinance existing debt and support continued investment in Starlink, Starship and next-generation space infrastructure. The IPO represents a landmark moment for the commercial space industry, bringing unprecedented investor attention to the wider SpaceTech ecosystem. [Read more]

SpaceX alumni fuel next generation of SpaceTech companies

New data from Crustdata shows that more than 1,300 former SpaceX employees have founded companies that have collectively raised $9.2bn in funding. The group includes SSIT portfolio company Xona Space Systems, alongside a number of leading commercial SpaceTech businesses. The findings highlight how SpaceX has become an important source of entrepreneurial talent, helping to build the wider commercial SpaceTech ecosystem beyond the company itself. [Read more]

EQT acquires Exolaunch, highlighting private equity interest in space

EQT agreed to acquire German satellite launch services provider Exolaunch, marking its first private equity investment in the space sector. The company provides launch integration and deployment services and has supported more than 790 satellite deployments, reflecting strong demand for commercial launch infrastructure. [Read more]

Media

Podcasts/interviews

· Mark Boggett on AJ Bell Investment Trust Show: Seraphim Space's CEO discussed the growing intersection of space and defence. [Watch here]

· James Bruegger on London South East: Seraphim Space's CIO explained why the SpaceX IPO is a major inflection point for investors. [Watch here]

· Mark Boggett on Fund Shack: Seraphim Space's CEO explored themes beyond SpaceX, including the role of defence, artificial intelligence (AI) and orbital infrastructure in shaping the future space economy. [Watch here]

· Mark Boggett on CNBC: Seraphim Space's CEO discussed SpaceX's pricing and impact ahead of its IPO. [Watch here]

Conferences

· SPACETIDE: Mark Boggett, Seraphim Space CEO, will be attending and speaking on 8 July 2026 in Tokyo. [Learn more]

· Australian British Defence Catalyst: Dr Maureen Haverty, Seraphim Space Investment Principal, will be attending and speaking on 14 July 2026 in London. [Learn more]

· DWC Resilience Seminar: Dr Maureen Haverty, Seraphim Space Investment Principal, will be attending and speaking on 27 July 2026 in London.

Curation Connect - explore SSIT: SSIT is featured on Curation Connect, a platform offering investors insights into SSIT's portfolio, growth strategy and position within the global SpaceTech market. The profile showcases SSIT's investment thesis, highlighting its solid foundations and role in the rapidly evolving space economy. [Learn more]

Find out where to meet and hear from Seraphim Space's team by following its social media, LinkedIn / Twitter.

Sign up to receive Seraphim Space's monthly newsletter directly to your inbox. [Sign up]

Neither the Company's website nor the content of any website accessible from hyperlinks in it or in this newsletter (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of, this newsletter.

- Ends -

Media Enquiries

Notes to Editors

About Seraphim Space Investment Trust plc

Seraphim Space Investment Trust plc (the "Company") is the world's first listed fund focused on SpaceTech. The Company seeks exposure predominantly to early and growth stage private financed SpaceTech businesses that have the potential to dominate globally and that are sector leaders with first mover advantages in areas such as climate, communications, mobility and cyber security.

The Company is listed on the Main Market of the London Stock Exchange.

Further information is available at: https://investors.seraphim.vc.

About Seraphim Space Manager LLP

Seraphim Space Manager LLP ("Seraphim Space" or the "Manager") is based in the UK and manages Seraphim Space Investment Trust plc and Seraphim Space Ventures II LP.

Further information is available at www.seraphim.vc.

About Seraphim Space Accelerator Ltd

Seraphim Space Accelerator Ltd, an affiliate of Seraphim Space Manager LLP based in the UK, established the Seraphim Space Accelerator in 2018 and has developed it to become the world-leading VC-led accelerator with a focus on SpaceTech. The accelerator programme brings in-depth industry expertise to get Seed and Pre-Series A SpaceTech companies 'investment ready' while facilitating relationships with some of the world's leading Space corporates and agencies.

Further information is available at www.seraphim.vc.

About Generation Space LLC

Generation Space LLC is the US subsidiary of Seraphim Space Manager LLP and is responsible for its US activities. Generation Space LLC is an affiliate of Seraphim Space Camp Accelerator Ltd and is responsible for delivery of the US Generation Space Accelerator.

Further information is available at www.generation.space.