QuadSAT announced it has closed its £700,000 seed round, led by the Danish Growth Fund, VF with participation from Seraphim Capital and existing investors.
The investment will enable QuadSAT to bring its innovative drone platform to the SATCOM industry, initially focusing on maritime and aeronautical applications. QuadSAT’s platform uses drone technology to test and calibrate satellite and VSAT antennas autonomously, mimicking an orbiting satellite that can simulate a ship or aircraft’s motion. This method enables highly accurate testing while drastically reducing downtime.
Having started as a University project, QuadSAT is an innovative startup company. Based at Odense Robotics Start Up Hub, a Danish accelerator programme for robotics and drone startups, which provides premises and expert assistance, this investment follows an initial round of investment to establish the company in 2017.
Joakim Espeland, CEO, QuadSAT, commented: “Our technology alleviates a massive pain point for our customers and will ensure high quality communications with minimum interference at a competitive price. We’re thrilled to be backed by our investors, including the team at Seraphim, which brings with it a great deal of sector-expertise as the world’s leading space-tech focused venture capital fund.”
QuadSAT was one of six companies to take part in Mission 1 of Seraphim Space Camp. Seraphim Space Camp is the U.K.’s first accelerator for space-tech start-ups backed by Seraphim Capital, the world’s first venture capital fund dedicated to SpaceTech. The programme aims to get Seed and Pre-Series A, space-tech companies "investment ready" and to facilitate unique corporate relationships with some of the leading space corporates and agencies.
Of the programme, Joakim said: “Taking part in Seraphim Space Camp was fundamental to us really. Speaking to relevant industry players who were able to validate what we were doing had a big impact on us and our future roadmap.”
Rob Desborough, Seraphim Capital Portfolio director and director of Seraphim Space Camp commented: “We are very excited to be partnering with Joakim and the rest of the QuadSAT team. They were incredibly well received by our corporate partners whilst on the Space Camp Accelerator and are first movers in a billion-dollar global market. With stringent industry standards in place, QuadSAT is solving a real challenge for its customers and will provide enormous benefit to the industry.”