OXFORD, England (Satellite Applications Catapult PR) — The Satellite Applications Catapult is delighted to have supported Oxford Space Systems (OSS) in securing £1.2m [$1.86 million] worth of investment from a combination of institutional and private investors.
Harwell-based OSS launched in September 2013 to develop novel hardware solutions for space that are lighter, less complex and lower cost than existing products. In the past two years, the company has worked closely with the Catapult, benefitting from initial business support and collaboration, later followed by a Business Sprint, focusing in particular on investment readiness.
The Catapult has continued to support OSS with the development of a business offering centred on applications for OSS’s proprietary technology. This has primarily focused on next generation deployable structures to support a new generation of micro-satellites for a range of space-based commercial services. OSS also participated in the Catapult-organised UK-Singapore Showcase event in April 2015 that generated great interest for the company.
Stuart Martin, CEO of the Satellite Applications Catapult, said: “Mike Lawton and his team at OSS are developing pioneering deployable technologies for the space market. The fact that they’ve attracted the attention of a raft of investors demonstrates the strides they are making, and the strength of opportunities that lie ahead in this global market.
“We’re very proud to have supported OSS over the past two years, and look forward to continue working with Mike and the team as they grow their business further, and continue to contribute to the UK’s expanding space portfolio.”
Oxford Space Systems CEO, Mike Lawton, said: “The Catapult team’s expertise and network of contacts has proved invaluable to us, while their original thinking has led to a quality output that we regularly use at high profile events. The Catapult also offers a unique innovation environment for our business to succeed and has hosted numerous deployment demonstrations of our large deployable antenna and boom products which has helped secure development contracts with Airbus D&S and the UK Space Agency, as well a number of overseas customers. In fact, the Catapult has been instrumental in helping us achieved a record for the space industry – we’re on course to go from concept to first flight of hardware in under 36 months.”
David Denny, Partner at Longwall Ventures, said: “Oxford Space Systems makes for an attractive investment due to an industry experienced team, a disruptive new technology, and a strong network of relationships in both the traditional and so called ‘New Space’ sector. OSS has exceeded its first year targets, so naturally we’re delighted to lead the next round. This will further enable Mike and the team to achieve sustainable commercial success.”
Take a look at our SME Case Study on Oxford Space Systems.