Open Cosmos advised by Penningtons Manches Cooper on fundraise

By Giles Gwinnett

30 October 2023

Share

satellite

Open Cosmos, the Harwell-based space tech business, which makes satellites that gather data to solve pressing global challenges, recently secured US$50 million of Series B funding and was advised by Penningtons Manches Cooper.

The proceeds will enable the Oxfordshire-based company to accelerate growth, expand its offerings, facilitate international expansion, and continue to deliver market-leading innovation.

The funding round was led by Trill Impact, A&G and ETF Partners.

The team advising Open Cosmos was led by corporate partner James Went and senior associate Dominique Sabatini, with support from trainee Iona Todd, IP, IT and commercial team partner Joanne Vengadesan, and senior associate Nora Pook.

"Our successful Series B funding, with the support of such prominent ESG and impact investors, is a testament to our commitment to sustainability and innovation," said Rafel Jorda Siquier, CEO and founder of Open Cosmos.

"This investment will propel us forward and I’d like to thank James and Dominique and the wider team at Penningtons Manches Cooper for their help in this key step forward for Open Cosmos."

James Went, partner at Penningtons Manches Cooper, added: "Open Cosmos is such an exciting business with the potential to help address critical global issues. It was great working with their impressive management team to deliver this successful Series B fundraising."

Open Cosmos is a world leader in delivering end-to-end telecommunications, earth observation (EO), navigation and scientific missions.

It designs, builds, launches and operates advanced satellites through its OpenOrbit offering; enables organisations to access and share data via its OpenConstellation infrastructure and offers AI-powered data analysis from a growing range of satellite sources and analytic partners via its DataCosmos platform.

Satellites have a range of impactful use cases. Their onboard technology, when combined with AI applications, can measure greenhouse gases, while providing data on global temperature trends and can help monitor the extent of polar ice caps, sea levels, and ocean currents.

The company was founded in 2015 and is one of the fastest growing companies in the sector.

Visit Hampshire Biz News for bright, upbeat and positive business news from the county

By Giles Gwinnett

Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.