Simera Sense, a global leader in providing end-to-end optical solutions to the small satellite Earth observation industry, has raised €13.5 million in its first growth investment round.
The company, which offers a range of “off-the-shelf” high-resolution cameras ready for use by small satellite industry customers around the world, has grown rapidly since its founding in 2018. Simera provides solutions to customers around the globe. The observation data and services market is estimated to be worth $12.55 billion in 2024 and is expected to reach $20.73 billion by 2029.
Simera Sense will use investment from NewSpace Capital and Knife Capital to meet growing customer demand, expand current production capacity and plan additional production locations in Europe. In addition to strengthening its production and customer support capabilities in Europe, the new funding will enable Simera to expand its product development team. This will speed up the development of his higher resolution SWIR camera products.
Another key area of development for Simera Sense is the incorporation of industry-changing onboard data processing into the camera control electronics. Already in development, it will be the first to market as data from satellite cameras is typically processed on the ground, increasing bandwidth and communication issues.
Johann Du Toit, CEO of Simera Sense, thanked the company's investors for their support. “We are very pleased with the amount raised and are grateful to NewSpace Capital and Knife Capital for choosing to support us. We look forward to our journey together. ” he said.
“As we take the next stage in the development of our in-vehicle data processing solutions, we will immediately consider increasing our production capacity to meet customer demand and further reduce delivery times.”
“Satellite imagery plays a central role in helping us solve problems on Earth, and the dynamism and growth of Earth observation and the broader space market reflects that.”
“This is a very exciting time for the company.”
Bogdan Gogulan, Managing Partner at NewSpace Capital, said: “We have spent a long time reviewing the market to find companies with the expertise as well as the ambition to revolutionize Earth observation. As a result, Simera Sense stood out from the crowd.”
“We have been following the company for years. This team has a very rare combination of technical excellence, business acumen, resilience and humility that attracts customers and partners. We believe this team can accomplish a lot, including mastering onboard data processing, which will be transformative for the market.”
“There are also interesting synergies with other companies in our portfolio.”
“We are delighted that Simera has selected NewSpace Capital to lead this round. We are grateful to our co-investor Knife Capital for their confidence in us as we begin the next chapter in the development of the commercial space. We look forward to working together.”
Founded in South Africa and headquartered in Leuven, Belgium, Simera Sense counts companies such as AAC Clyde Space, Open Cosmos, Nara Space, OHB Systems AG and many others among its valued customers.
The company cooperates with various European institutions and participates in partnerships with other companies, in response to the prospects of “new spaces”.
In 2020, in partnership with Open Cosmos, we were selected to be part of the ESA-supported Phi-Sat-2 mission to provide an AI-enabled Earth observation Cubesat solution.
Keet van Zyl, co-founder and partner at Knife Capital, added: “We are excited to support the unique combination of a deep technology product suite, market demand for Simera Sense products, and an entrepreneurial team with a proven track record of execution” capabilities in this area.
“It has already been an enriching journey during our due diligence and closing the transaction with a trusted investment partner. Knife Capital is proud to be contributing to the transformation of the optical payload solutions industry.”