Seraphim (USOTC:SSITF) said Thursday it has successfully closed its early-stage SpaceTech venture fund above its $100 million fundraising target, marking continued investor appetite for space-enabled technology investments.
Following the raise, the investment group now oversees more than $550 million in assets across its active funds.
The oversubscribed vehicle attracted backing from institutional investors including the British Business Bank and the National Security Strategic Investment Fund. Strategic corporate investors also participated, with Arabsat joining existing partners Eutelsat, NEC, and SKY Perfect JSAT.
Focus on early-stage space-enabled innovation
The fund targets Seed and Series A opportunities in companies developing technologies powered by space infrastructure and data. Operating from its headquarters in London, with additional offices in the United States and Germany, Seraphim invests globally in emerging SpaceTech businesses.
To date, the fund has supported 17 companies across the U.S. and Europe focused on combining space capabilities with artificial intelligence applications. Portfolio investments span multiple sectors including defence, climate technology, life sciences, and space infrastructure.
Defence-focused holdings include Auriga, Atmos Space Cargo, General Galactic and Privateer, which are developing technologies designed to enhance access to and control of space environments.
In climate technology, companies such as Delos, Adaptive Insurance and Renoster are leveraging satellite data alongside AI tools to support climate adaptation and risk analysis solutions.
LambdaVision is exploring health applications enabled by microgravity conditions, while infrastructure-focused investments — including AscendArc, Array Labs, Constellr, Hubble Networks, PiLogic and Ubotica — are building capabilities in space-based sensing, communications and computing.
Latest investment targets AI-enabled defence systems
The fund’s newest investment is Mutable Tactics, a defence technology startup based in Cambridge. The company develops AI-driven software that enables autonomous systems to continue operating and coordinating in environments where communications are disrupted or unavailable.
Mutable Tactics is expected to complete its own funding round in the coming weeks.
Mark Boggett, CEO of Seraphim Space, said the recent SpaceX-xAI merger validates the firm’s view that SpaceTech is becoming a foundational enabler for artificial intelligence and digital systems powering the global economy.