Kleos Space raises $9.3m for launching future satellite clusters

Kleos Space, a Luxembourg-based space-powered radio frequency reconnaissance data-as-a-service (DaaS) company, has raised AUD 12.6 million ($9.37 million) from new and existing institutional and sophisticated investors in Australia and the US.

The funds were raised by the DaaS company through a placement of nearly 14.82 million new CHESS Depositary Interests over the ordinary shares (CDIs) of Kleos Space at AUD 0.85 per CDI.

The placement included cornerstone investments made by Perennial Value Management and Thorney Investment Group.

Proceeds from the placement will be utilized by Kleos Space for funding the launch of future satellite clusters as well as to scale its data-as-a-service offering.

Andy Bowyer — CEO of Kleos Space said: “I am extremely pleased to welcome new high-calibre institutional investors Perennial and Thorney to the register. The strong support we have received from new and current investors reflects Kleos’ significant technical and commercial progress that is accelerating rapidly.”