TORONTO, ONTARIO, June 9th, 2021 (Kepler Communications PR) — Space company Kepler Communications has raised an oversubscribed US$60M Series B to provide it with a capital injection for the continued scaling of its on-orbit satellite communications network.
This Series B fundraising round, was led by Tribe Capital, and includes participation from a host of new investors including Canaan Partners. Existing investors including IA Ventures, and Costanoa Ventures also participated signaling their strong conviction in the company’s progress and market opportunity. This brings the total funding raised to date by Kepler to over USD$90M.
Kepler is charging forward in the space race to develop a Low Earth Orbit (LEO) satellite communication network. Kepler’s ambition is to provide Internet outside of Earth for the booming space economy. Kepler designs, builds, and operates satellites that are 1/10th the size and cost of alternatives to provide satellite communication services. Its network provides much needed capacity to the Maritime, Aviation, and Government markets on Earth and will soon extend coverage outside of Earth for applications like Earth Observation and Space Tourism.
Mina Mitry, CEO and Co-Founder, commented “This new funding not only allows us to continue our revenue growth using existing satellites, but also enables us to introduce new services in support of our growing customer base. We are pleased to have Tribe Capital leading the round given the deep domain expertise they’ve built through investments like Relativity Space.”
Kepler has made many significant advancements in the past year despite the challenges presented by COVID-19. The company completed its vertical integration by bringing satellite production in-house, and designed, built, and launched a dozen GEN 1 satellites. They now boast the capability to produce 10 satellites per month. Leveraging their production, Kepler has grown to become the largest satellite operator in Canada with 15 satellites now in orbit serving customer needs as far as the North Pole. They’ve demonstrated world record data rates with a wide variety of end-user equipment enabling customers to reap the advantages of LEO without the need to adopt new hardware.
The funds raised will help Kepler introduce their next generation satellites as they increase the size of their network. Wen Cheng Chong, CTO and Co-Founder, added “Building the internet in space is the guiding mission at Kepler. Our next generation of satellites will expand our coverage beyond Earth providing internet connectivity people, devices, satellites and more in orbit. There is a growing need to get data generated in space back to earth, and this is a need Kepler is uniquely qualified to address. This is an exciting time for those of us at Kepler as we create an essential part of the infrastructure needed for humanity to look toward a future beyond Earth’s atmosphere.”