Estonian spacetech startup Spaceit has raised €1 million in a pre-seed round led by Icebreaker.vc. The Tartu-based firm provides a Mission Control as a Service platform for satellite operations, as well as a host of simulators aimed at beefing up space sector cybersecurity defenses. The funding is expected to further fuel overall development of the platform.
In 2020 an all-time high 1,283 satellites were launched into orbit. However, by the end of April of this year, almost 850 satellites had been launched, a number representing 66.25% of the entirety of 2020.
Showing no signs of slowing down, for every satellite launched, each requires a secure and extensive radio communications system. According to Spaceit, existing solutions on today's market do not support the growing number of satellite constellation deployments, have a number of cybersecurity flaws, and aren’t scalable.
By offering a MCaaS (Mission Control as a Service) solution, Spaceit is seeking to reduce satellite mission budgets by more than 80%, further democratising satellite deployments.
In addition to Icebreaker.vc, Spaceit’s pre-seed round also saw participation from UG Investments.
“The Spaceit team has a deep understanding of the requirements of modern space operations. They have developed a strong technology that provides an essential service at a fraction of the cost of alternatives as well as providing better radio coverage,” commented Icebreaker.vc’s Riku Seppälä.
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