Seraphim Space, a London-based SpaceTech investment group, today announces the latest closing of its oversubscribed early-stage venture fund to support ventures at the Seed and Series A stage – exceeding its previous €84 million ($100 million) target.
Investors include the British Business Bank (BBB), and the National Security Strategic Investment Fund (NSSIF). Alongside new strategic corporate backers such as Arabsat, join existing partners Eutelsat, NEC, and SKY Perfect JSAT.
Mark Boggett, CEO of Seraphim Space, says: “Ten years on from raising our first SpaceTech fund, we are still only in the early phases of tapping into the immense opportunities that Space holds to transform all our lives. The recent SpaceX–xAI merger is a clear validation of Seraphim’s long-held view: SpaceTech is fast becoming the foundational enabler for artificial intelligence and digital systems that will power the global economy.
In 2025–2026, European SpaceTech has seen a range of notable funding rounds that highlight sustained investor interest across both foundational infrastructure and specialised DeepTech applications.
Reflex Aerospace in France raised €50 million for satellite systems and manufacturing, Infinite Orbits secured €40 million to expand its satellite servicing business, and UNIVITY won €31 million under the France 2030 programme for its space-based 5G constellation.
Other mid-stage raises include U-Space with €24 million to scale satellite production, while earlier-stage rounds such as Marble Imaging (€5.3 million) for Earth observation, Kreios Space (€8 million) for very low Earth orbit satellites, Orbital Paradigm (€1.5 million) for reusable capsules, Astradyne (€2 million) for ultralight solar panels, and Latvia’s Deep Space Energy (~€930k) for radioisotope generator tech.
Viewed alongside Seraphim Space’s close beyond its €84 million target, this pattern of funding – from larger strategic raises in satellite infrastructure and servicing to smaller, specialised Seed rounds – highlights a broadening European SpaceTech ecosystem where capital is flowing to both scalable infrastructure and niche DeepTech capabilities that could feed into stronger cross-border and cross-stage portfolios.
“This latest close of our current venture fund empowers us to continue championing breakthrough innovations that will shape industries and deliver meaningful, long-term benefits for our planet over the coming decade and beyond,” adds Mark.
Founded in 2016, Seraphim Space pioneered SpaceTech as a distinct investment category, reportedly launching both the world’s first private and public venture capital funds devoted to this field. Since its inception, Seraphim has supported 149 companies spanning 33 countries, with its portfolio companies collectively raising more than €11.4 billion (£10 billion) and nine achieving coveted unicorn status.
Seraphim’s ecosystem encompasses accelerators, dedicated venture funds, and the London Stock Exchange-listed Seraphim Space Investment Trust (SSIT), enabling global support from Seed stage through to late-stage growth.
Seraphim now manages more than €465 million ($550 million) in AUM across its private and public active funds.
Christine Hockley, Managing Director and Co-Head of Funds, British Business Bank says: “This investment is another example of the long-term impact of the Bank’s cornerstone commitments. We have been a partner of Seraphim since their first fund, and the firm has successfully carved out a niche in a rapidly advancing area of frontier technology. By making a cornerstone commitment to Seraphim, we are expanding the pool of capital available for the UK’s space entrepreneurs and helping a specialist UK fund manager to thrive.”
The fund has already backed 17 companies from allied nations in the US and Europe, each aligned around a common theme of how SpaceTech capabilities combined with AI are now disrupting the €84 trillion ($100 trillion) global economy. Some of the key areas represented by the portfolio include:
- Defence: With Space playing an ever-greater role in global security, the likes of Auriga, Atmos Space Cargo, General Galactic and Privateer are developing the technologies needed for reliable access to, return from, and control of the ever-more contested space domain.
- Climate: companies such as Delos, Adaptive Insurance and Renoster are exploiting the confluence of vast troves of space data combined with AI to unlock new applications in climate adaption and resilience
- Life Sciences: LambdaVision are utilising the unique microgravity environment of space to drive innovations to improve human health that would be impossible to achieve on Earth
- Next Generation Space Infrastructure: As the cost of accessing Space continues to fall, companies including AscendArc, Array Labs, Constellr, Hubble Networks, PiLogic and Ubotica are pioneering
The fund’s most recent investment is Mutable Tactics, a Cambridge, UK–based DeepTech defence startup that allows unmanned systems, such as aerial, maritime, or ground drones, to operate and make decisions even when communications are lost or unreliable. Mutable Tactics is addressing this challenge by enabling mixed fleets of drones to operate together as a coordinated team, rather than as individually piloted platforms. The company is expected to close its own round within the coming weeks.
Read the orginal article: https://www.eu-startups.com/2026/02/seraphim-space-surpasses-e84-million-target-with-latest-close-of-early-stage-spacetech-fund/
