Latest news with #spacetech
Yahoo
3 days ago
- Business
- Yahoo
Firefly Aerospace sputters a day after stellar Nasdaq debut
By Manya Saini (Reuters) -Firefly Aerospace shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
Reuters
3 days ago
- Business
- Reuters
Firefly Aerospace sputters a day after stellar Nasdaq debut
Aug 8 (Reuters) - Firefly Aerospace (FLY.O), opens new tab shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle (CRCL.N), opens new tab — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
Entrepreneur
17-06-2025
- Business
- Entrepreneur
SanchiConnect Partners with KickSky to Boost Indian SpaceTech Startups
KickSky is a joint effort by Riceberg Ventures, E2MC Ventures, and Aniara Consulting. With SanchiConnect joining in, the program will offer startups better guidance, access to global investors, and help them move from idea to launch. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Deeptech startup network SanchiConnect has teamed up with KickSky Space Lab, a program that supports early-stage spacetech startups. This new partnership, led by Riceberg Ventures, aims to help Indian Spacetech startups grow and reach global markets. KickSky is a joint effort by Riceberg Ventures, E2MC Ventures, and Aniara Consulting. With SanchiConnect joining in, the program will offer startups better guidance, access to global investors, and help them move from idea to launch. Dr Sunil Shekhawat, CEO of SanchiConnect, said, "We are excited to join hands with Riceberg Ventures to accelerate the growth of India's SpaceTech ecosystem. Our combined strengths will empower startups to move beyond proof-of-concept, access global markets, and attract the right capital partners." Riceberg Ventures has offices in Bengaluru, Zurich, London, and San Francisco and focuses on investing in advanced technologies. Their accelerator program, KickSky, supports promising founders in the spacetech field. "KickSky was envisioned as a launchpad for the boldest minds in spacetech," said Ankit Anand, Founding Partner, Riceberg Ventures. "With SanchiConnect's unmatched network and accelerator expertise, we are poised to take KickSky to new heights, offering startups not just capital, but the strategic guidance and global connections needed to solve some of humanity's most ambitious challenges." Govindrajan, Director at KickSky Space Lab, added, "Our goal is to make space opportunities more accessible to Indian founders. This partnership with SanchiConnect will give startups the tools, mentorship, and networks they need to test and grow their ideas." This collaboration comes at an important time for India's spacetech sector, which is getting strong support from government bodies like IN-SPACe. The SanchiConnect–KickSky partnership plans to support this momentum by offering startups more funding options, expert advice, and international exposure. The team also plans to build a global Spacetech community to connect startups with investors, experts, and suppliers from around the world.
Wamda
20-05-2025
- Business
- Wamda
Saudi spacetech SARsatX raises $2.6 million Seed
Saudi Arabia-based spacetech SARsatX has raised $2.6 million in a Seed round, led by TONOMUS, with participation from Wa'ed Ventures (Aramco), Access Bridge Ventures, and KAUST Innovation Ventures. Founded in 2019 by Ahmed Alzubairi and Muhannad Almutiry as a spin-off from KAUST's TAQADAM Accelerator, SARsatX designs and builds small satellites with Synthetic Aperture Radar (SAR) capabilities to deliver Earth Observation data. Its applications include deforestation monitoring, oil leakage detection, disaster management, border security, urban development, and search and rescue. The new funding will accelerate SARsatX's technology development and help scale its satellite deployment. Press release: SARsatX, a Saudi-based space technology startup specialising in Synthetic Aperture Radar (SAR), has announced the successful closure of a $2.6 million seed funding round. The investment marks a key milestone for the Kingdom's emerging NewSpace sector and reinforces its growing presence in the global space economy. The round was led by TONOMUS, a digital subsidiary of NEOM, with participation from Wa'ed Ventures (the venture capital arm of Aramco), Access Bridge Ventures, and KAUST Innovation Ventures. SARsatX previously received backing from Flat6Labs, a leading early-stage venture capital firm in the MENA region. Founded as a spin-off from the TAQADAM Startup Accelerator and incubated by King Abdullah University of Science and Technology (KAUST), SARsatX is focused on designing and building small satellites equipped with SAR capabilities for Earth Observation (EO). The startup delivers near real-time satellite data within four hours, serving use cases across deforestation monitoring, oil leak detection, disaster response, urban development, and border security. SARsatX is supported by major regional entities, including the Saudi Space Commission and UAE Space Agency, and is currently part of the MiSK entrepreneurship programme powered by Plug and Play, where it receives mentorship from global industry experts. With this latest round of funding, SARsatX aims to enhance its technological edge, expand deployment of SAR-based EO solutions, and position Saudi Arabia as a key player in the commercial space sector.
Entrepreneur
19-05-2025
- Business
- Entrepreneur
growX Ventures Scores 17x Return on Pixxel Partial Exit
The fund has backed 17 B2B startups, including Bellatrix Aerospace, Progcap, Zuddl, CynLr, Lightspeed Photonics, and 4baseCare, and remains significantly invested in the next wave of deeptech innovation. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. growX Ventures Fund, an early-stage B2B-focused venture capital fund, has announced a partial exit from Pixxel, the hyperspectral imaging spacetech startup, netting a stellar 17x return on invested capital and a 68% IRR over 5.5 years. The milestone validates growX's early conviction in deeptech at a time when India's private space sector was largely untested. The investment dates back to 2019, when Pixxel was just an audacious idea. growX Ventures Fund was the first institutional investor to back the Bengaluru-based company, betting on its long-term vision to build a full-stack SpaceTech business. "When we invested in Pixxel in 2019, there was no playbook for DeepTech in India—no exits, no benchmarks, and certainly no roadmap for building a full-stack SpaceTech company," said Sheetal Bahl, Partner at growX Ventures Fund and Merak Ventures. "But the idea was audacious, and the clarity was unmistakable—from a 2050 vision to the first 50 hires already mapped out. Watching that conviction translate into real outcomes is deeply meaningful." Since then, Pixxel has raised USD 95 million across nine funding rounds, with backers including GIC, Google, Radical Ventures, and Seraphim. The company's hyperspectral imaging satellites are currently being piloted across agriculture, mining, energy, and environmental sectors, with full-scale commercial deployment expected once its mini-constellation of six satellites goes live later this year. "For an early-stage fund, translating bold, pioneering bets into realised returns is a powerful validation," said Manu Rikhye, Partner at growX Ventures Fund I and Merak Ventures. "This partial exit allows us to return capital while continuing to stay meaningfully invested in Pixxel's long-term growth." This marks the first liquidity event for growX Fund I, a USD 25 million vehicle launched in 2019. The fund has backed 17 B2B startups, including Bellatrix Aerospace, Progcap, Zuddl, CynLr, Lightspeed Photonics, and 4baseCare, and remains significantly invested in the next wave of deeptech innovation.
