Knife Capital backs Earth observation optical imaging solutions company
Knife Capital backs Earth observation optical imaging solutions company
Simera Sense, a provider of optical solutions for the small satellite Earth observation industry, has raised €13.5 million.
Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.
Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)
Tap on the top-right icon to log in or register a free account
Tap on bottom-right Connect icon to start chatting
Simera Sense, a provider of end-to-end optical solutions for the small satellite Earth observation industry, has raised €13.5 million from Knife Capital and NewSpace Capital. The company was launched in South Africa and is now headquartered in Belgium.
The company, which offers a diverse array of ‘off-the-shelf’ high-resolution cameras ready for use by clients across the global small satellite industry, has grown rapidly since its founding in 2018. Simera supplies solutions to global customers in the Earth observation data and service market, which is estimated to be worth $12.55 billion in 2024, and is expected to reach $20.73 billion by 2029.
Simera Sense will use the investment from NewSpace Capital and Knife Capital to respond to rising client demand and expand its current production capacity, with additional production sites planned in Europe. In addition to strengthening its production and customer support capacity in Europe, the new funding will enable Simera to expand its product development teams.
Another key area of development for Simera Sense is the inclusion of on-board data processing, embedded in the camera control electronics. Already under development, it will be a market first, as data from satellite cameras is typically processed on the ground, stretching bandwidth and creating communication issues.
Keet van Zyl, co-founder and partner at Knife Capital said, "We are thrilled to back the unique combination of a deep technology product suite, a market demand for Simera Sense products and an entrepreneurial team that has a track record of proven execution capabilities in this space. It has already been a fulfilling journey even during due diligence and closing out the transaction with credible investment partners. Knife Capital is proud to be part of transforming the optical payload solutions industry."
Bogdan Gogulan, managing partner of NewSpace Capital said, "We spent a long time looking at the market for a company with not just the ambition but the expertise to revolutionise Earth observation, and Simera Sense stood out from the crowd. We’ve been following the company for a number of years. The team has a very rare combination of technical excellence, business acumen, resilience and humility that attracts customers and partners. We believe this team will achieve a lot, including mastering on-board data processing, which would be transformational for the market. There are also interesting synergies with some other companies in our portfolio. We are delighted that Simera has chosen NewSpace Capital to lead this round. We appreciate the trust of our co-investors, Knife Capital. We look forward to working together to begin the next chapter in the development of the commercial space."
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.