Danish company, QuadSAT ApS, has raised €9 million in funding to scale up its operations, hire talent and increase its product range.
The funding round was led by IQ capital and supported by current investors, including Seraphim Space, Danish state Vækstfonden, and angel investors Torben Frigaard Rasmussen and Helge Munk.
QuadSAT’s drone mounted technology is used to test and monitor satellites, regardless of their location, naming OneWeb, SES, and the European Space Agency on its client roster.
"The sat-coms industry is growing at a fantastic rate. In the not too distant future, almost everything will be connected via satellite. With that growth will come an urgent need to ensure efficient RF connectivity and spectrum utilisation. QuadSAT’s technology is already making an impact with a number of leading players. This company has massive potential for the future, and we are excited to be a part of the next stage of growth,“ says Daniel Carew, Investment Principle from IQ Capital.
QuadSAT’s new funds will go towards scaling up its operation, hiring top talent and expanding its product range.
"This is a significant milestone for our company, and we are excited to be able to expand our global reach. With this funding, we will be able to optimise the use of global radio spectrum by providing our customers unparalleled testing capabilities, ultimately ensuring better performance of satellite networks,“ says Joakim Espeland, CEO of QuadSAT.
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