- Satellite Evolution
Vyoma to develop novel tracking system and automation services for Space Traffic Management
Vyoma, a Darmstadt-based company with operating offices in Munich, has announced the successful closing of an extended Seed financing round during the Summer of 2022. This investment follows an earlier Seed closing and pre-Seed round in 2021, and the award of ESA and EU Commission contracts and early-stage incubation schemes, in the space of only 18 months.
Vyoma’s Seed extension closing is led by Happiness Capital and Berlin-based venture capital firm Atlantic Labs, which previously invested in the company. Lisbon-based Faber Ventures complemented the round. With the latest investment, Vyoma will be able to advance the procurement of its spacecraft on which debris-tracking cameras will be mounted, perform a flight test of its debris image-processing algorithms, and deploy a portfolio of services to support satellite operators. The first spacecraft of the fleet will be launched in 2024.
Vyoma enables real-time space traffic management in congested orbits around Earth. While space is becoming increasingly crowded, Vyoma provides safe and automated satellite operations services, drastically reducing mission costs for its customers. The company’s operations services range from detection of close approaches between satellites and debris, optimisation of manoeuvres, all the way to full automation. Vyoma tenders to operators, reinsurers and space agencies.
Commenting on the investment, Stefan Frey, co-founder and CEO of Vyoma says: “We are thrilled to have the continued support of Atlantic Labs and of Happiness Capital and Faber, who like us have recognised the threat of space debris and actively want to tackle it. This investment will allow us to make a giant leap towards launching our pilot satellites, which will revolutionise the way in which we can monitor the space environment. Together, we can support the quickly growing New Space sector while achieving sustainability in space!”
Eric Ng, Investor at Happiness Capital, states: “Mitigating space debris is one of the most pressing challenges facing humanity nowadays. 8 billion people on the planet rely on access to space-based services and with the space economy on track to generate trillions of Euros in the coming years, Vyoma is the right player to enable a safe (and automated) passage through space. Vyoma is one of the most diverse and technically strongest I have seen and I’m a firm believer in its vision to keep space accessible for everyone!”
Maximilian Kufner, Investor at Atlantic Labs, declares: “Space Debris is no longer just a horror scenario from a science fiction novel, but a very real problem for satellite operators. As our orbits continue to get more congested, we need solutions that protect satellites from collisions and reduce the risk of debris. Prevention is the best cure and the incredibly talented team from Vyoma is here to do exactly that. We are proud to be supporting this talented team in making space safer and more sustainable.”
Sofia Santos, partner at Faber Ventures, mentions: “Vyoma’s team is solving a very relevant space problem with potential repercussions for life on earth. We are very excited to join Vyoma’s team journey and back a strong technical team with a promising technology for space-based observation.”