Isotropic Systems raises $14m to advance space-based connectivity
London-based integrated satellite terminal solutions provider, Isotropic Systems Ltd., has announced a $14 million Series A round of funding led by Boeing HorizonX Ventures, with participation from WML, Space Angels and Space Capital. Isotropic joins Boeing subsidiary Millennium Space Systems and Boeing HorizonX Ventures portfolio startups Myriota, BridgeSat Inc. and Accion Systems in advancing the company's satellite and space-based capabilities.
Isotropic is the second UK-based startup to join the HorizonX portfolio, following Reaction Engines in April 2018.
"This investment is another indication of the strength of the UK's aerospace and technology sectors and Boeing's commitment to growing in the UK," said Sir Michael Arthur (right), president of Boeing Europe and managing director of Boeing UK and Ireland.
John Finney, founder and chief executive officer of Isotropic Systems said: “The Series A financing builds on an exceptional year for Isotropic which saw a rapidly growing roster of strategic partners and customers who are poised to unlock the full potential of high-throughput satellites and mega-constellations across all orbits.
“Boeing’s investment provides our team access to Boeing experts, testing labs, and other valuable resources to fast-track the deployment of our terminal solutions and to leverage our intellectual property across other space-based and wireless connectivity applications.”
Leveraging a transformational optical beamforming technology to control the direction of radio waves, Isotropic Systems has developed communication terminal solutions that are significantly more cost-effective, use significantly less power and yet achieve superior performance benefits for the end users. The substantial reduction in cost and power combined with improved performance result in newly-addressable markets and enable mass adoption of satellite communications.
“Isotropic’s solution allows for increased capabilities at reduced costs for satellite service providers,” said Brian Schettler, managing director of Boeing HorizonX Ventures. “This investment accelerates the expansion of space-based connectivity services to the mass market and continues Boeing’s leadership in space innovation.”
This new funding will allow Isotropic to accelerate the commercialisation of its technology to benefit its satellite operator customers and to leverage its technology to explore new applications in adjacent markets.