Kleos Space raises investment to progress next satellite clusters
(11 November 2020 - Kleos Space) Kleos Space, a space- powered Radio Frequency Reconnaissance data provider, has received commitments to raise A$19 million (equivalent to 11.7 million EUR or 13.8 million USD) via a placement of approximately 26,388,889 new ordinary fully paid CDIs1.
Following the successful launch of the Kleos Scouting Mission satellites (KSM1) on 7 November, Kleos is now well financed to execute the launch of the second cluster of satellites, Polar Vigilance Mission (KSF1) in mid-2021, and to develop its third cluster of satellites (KSF2), targeted to be in orbit before the end of 2021.
Andrew Bowyer, Kleos CEO, said: “We welcome and are delighted to be supported by both existing and new high-quality institutional investors who have recognised the Kleos vision and potential. Strong participation and demand are a clear endorsement of that opportunity”.
The Placement sets a strong foundation for Kleos Space following the successful launch of the Kleos Scouting Mission satellites. The Launch and Early Orbit phase is progressing according to schedule after which Kleos Space can commence the delivery of its data products.