#SpaceWatchGL Column: E2MC Update On Space-Financing Rounds in December 2021

by Raphael Roettgen

Photo by NASA on Unsplash.

2021 finished strong, with another SPAC merger with a space-related (albeit not originally a space) company (Tomorrow.io), more fundraising by SpaceX, a few major private rounds, a couple of investments by Virgin Orbit (and hence yet further examples of a de-SPAC’d company deploying part of its cash towards investments) and even a small IPO (Sidus).

E2MC Ventures was part of the financing round of Space Forge, an in-space manufacturing firm, and if you are interested in learning more about that exciting business model, you can check out episode #39 of the Space Business Podcast, featuring their CEO & co-founder.

Company US$m Country Subsector Investors
Tomorrow.io max. 420

(345 trust + 75 PIPE)

US Remote sensing Koch Strategic Platforms, National Grid Partners, JetBlue Technology Ventures, SB Energy Corp., SoftBank, Pine Technology Sponsor
SpaceX 337.4 US Diversified (35 investors)
Loft Orbital 140.0 US Orbit services BlackRock, CEAS Investments, Uncork Capital, Foundation Capital, Ubiquity VC, others

Ursa Major 85.0 US Spacecraft components Alpha Edison, Alsop Louie Partners, BlackRock, Dolby Family Ventures, Explorer 1 Fund, Harpoon, Space Capital, XN

Stoke Space 65.0 US Launch Alameda Research, Breakthrough Energy Ventures, Global Founders Capital, Liquid 2 Ventures, MaC Venture Capital, NFX, Point72 Ventures, Seven Seven Six, Spark Capital, Toyota Ventures

NorthStar 45.0 Canada / Luxembourg IN Luxembourg Future Fund, Telesystem Space, others

iQPS 33.9 Japan Remote sensing JSat

hiSky 30.0 Israel Spacecraft components ST Engineering Ventures Fund, Strategic Development Fund

SatRevolution 30.0 Poland Spacecraft components

Virgin Orbit
PLD Space 28.3 Spain Launch Aciturri, Arcano, Centre for the Development of Industrial Technology (CDTI)

ICEYE 25.2 Finland

Remote sensing Seraphim
Sidus Space 15.0 US Spacecraft components & orbit services

(IPO)
Space Forge 10.2 UK Orbit services Bristol Private Equity Club, Development Bank of Wales, Dylan Taylor, E2MC Ventures, FJ Labs,Helios Capital, Newable Ventures, Quiet Capital, SpaceFund, Starbridge, Type One, World Fund, others

Space BD 9.2 Japan Orbit Services ANNIVERSAIRE, Incubate Fund, Mizuho Capital, Pavilion Capital, SMBC Venture Capital

ground 4.0 US Remote sensing – downstream Allos Ventures, Ascent Energy Ventures

Kayhan Space 3.7 US IN Initialized Capital, Jacob Helberg, Overline VC, Root Ventures

Cloud power 3.5 Australia Spacecraft components Adcock Private Equity, Allan Moss, Lennoxgrove Capital

IBISA 1.7 Luxembourg Remote sensing – downstream

Insurtech Gateway, Rockstart
Psionic 1.7 US Spacecraft components

N/A
Smallspark Space 0.3 UK Launch Deepbridge
Hypersat NA US Remote sensing Virgin Orbit
Rocket Pi NA China Launch Hainan Qianyi
Raphael Roettgen; Photo courtesy of the author

Raphael Roettgen provides financial advice to and invests proprietary capital in space companies as a managing director and founder of E2MC. He also advises institutional investors and governments on space. Previously, Raphael has held senior roles at global investment banks and hedge funds and was also a fintech entrepreneur in Brazil. He holds degrees in finance from Wharton, machine learning from PUC-Rio and space studies from the International Space University, as well as the CFA and FRM charters.