Sky and Space in $14m funding drive

By on 27 January, 2020

Perth-based ASX-listed space company Sky and Space Global (SAS) is seeking to raise $14.2 million to fulfill its mission “To provide cost efficient and reliable remote communication services based on nanosatellites”.

The funds raised would consist of $9.2m as entitlement offer shortfall and $5m of share placement to fund construction, testing and launch of the company’s first eight commercial 6U nanosatellite service. Commercialisation would only take 12 months, including launch of satellites and roll-out of ground terminals.

SAS claims to be the first company to plan, build and operate a nanosatellite telecommunication commercial network. It is “an innovative and disruptive New-Space company with a strong B2B model,” the company says in its prospectus. “Our offering is to provide cost-effective and reliable remote communication services and connect the unconnected. We are an experienced and capable team comprised of engineers, program managers, marketing/sales and software developers.

In 2017, SAS Global launched three prototype satellites on an Indian rocket to test its technology and now, SAS claims it is well advanced in plans for its ‘Pearls Constellation’. This would consist of as many as 200 nanosatellites in equatorial orbit, providing low-cost communications, data and internet services for markets in Africa, South America and Asia.

Future plans include an additional satellite constellation allowing full global coverage, including Australia, Russia, China, South Africa, Argentina and Canada. SAS claims to have more than 50 agreements in place for the use of its services.

Claimed advantages include:

  • ‘First-mover advantage’ and the vast market potential. Only now are the big players such as SpaceX starting to populate their proposed small satellite communications constellations.
  • Market opportunity. Right now there are coverage gaps, with cellular connectivity not globally available and satellite solutions are expensive, complex and non-dedicated.
  • Global reliable scalable connectivity via nanosatellites, at a fraction of the cost of traditional communications satellites, enabling new market opportunities.
  • Small satellites are projected to dominate the global satellite IoT market growth, and all satellite M2M/IoT applications are expected to grow, with revenue growth expected at 6.6 per cent compound annual growth rate, reaching $11.6bn in the next ten years.
  • Scalable technology. Established global and regional channel partners provide scalable, cost-effective distribution.

 

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