Simera Sense, a world leader providing end-to-end optical solutions for the small satellite Earth observation industry, has raised €13.5 million in its first growth investment round.
The company, which offers a diverse array of ‘off-the-shelf’ high-resolution cameras ready for use by clients across the global small satellite industry, has grown rapidly since its founding in 2018. Simera supplies solutions to global customers in the Earth observation data and service market, which is estimated to be worth $12.55 billion in 2024, and is expected to reach $20.73 billion by 2029.
Simera Sense will use the investment from NewSpace Capital and Knife Capital to respond to rising client demand and expand its current production capacity, with additional production sites planned in Europe. In addition to strengthening its production and customer support capacity in Europe, the new funding will enable Simera to expand its product development teams. This will fast-track the development of higher-resolution and SWIR camera products.
Another key area of development for Simera Sense is the inclusion of industry-transforming on-board data processing, embedded in the camera control electronics. Already under development, it will be a market first, as data from satellite cameras is typically processed on the ground, stretching bandwidth and creating communication issues.
Johann Du Toit, CEO at Simera Sense, thanked the company’s investors for their support. ‘We’re very pleased with the amount raised and grateful to NewSpace Capital and Knife Capital for choosing to back us. We are looking forward to our journey together,’ he said.
‘We’ll be looking immediately to increase our production capacity so we can meet client demand and bring delivery time down further, while taking the development of our on-board data processing solutions to the next stage’.
‘Satellite imagery has a central role to play in helping us solve problems here on Earth, and the dynamism and growth of the Earth observation and wider space market reflect that.’
‘It’s a very exciting time for the company.’
Bogdan Gogulan, Managing Partner of NewSpace Capital, said: ‘We spent a long time looking at the market for a company with not just the ambition but the expertise to revolutionise Earth observation, and Simera Sense stood out from the crowd.’
‘We’ve been following the company for a number of years. The team has a very rare combination of technical excellence, business acumen, resilience and humility that attracts customers and partners. We believe this team will achieve a lot, including mastering on-board data processing, which would be transformational for the market.’
‘There are also interesting synergies with some other companies in our portfolio.’
‘We are delighted that Simera has chosen NewSpace Capital to lead this round. We appreciate the trust of our co-investors, Knife Capital. We look forward to working together to begin the next chapter in the development of the commercial space.’
Simera Sense, which was launched in South Africa and is headquartered in Leuven, Belgium, counts AAC Clyde Space, Open Cosmos, Nara Space, OHB Systems AG, and many others among its valued clients.
The company collaborates with various European institutions and participates in partnership with other companies in response to ‘New Space’ prospects.
In 2020, in partnership with Open Cosmos, it was selected to be part of the Phi-Sat-2 mission, supported by ESA, providing solutions for an AI-enabled Earth Observation Cubesat.
Keet van Zyl, Co-Founder and Partner at Knife Capital, added: ‘We are thrilled to back the unique combination of a deep technology product suite, a market demand for Simera Sense products and an entrepreneurial team that has a track record of proven execution capabilities in this space.’
‘It has already been a fulfilling journey even during due diligence and closing out the transaction with credible investment partners. Knife Capital is proud to be part of transforming the optical payload solutions industry.’
