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Vyoma, a company based in Germany focused on space situational awareness, has successfully obtained further funding from a space-focused fund supported by the European Investment Fund (EIF). The EIF, jointly owned by the European Investment Bank and the European Union, funds disruptive technologies across various sectors in Europe. Atlantic Labs, another major investor in Vyoma and fund manager, by Robert Schreiber
Berlin, Germany (SPX) Apr 11, 2024
Vyoma, a company based in Germany focused on space situational awareness, has successfully obtained further funding from a space-focused fund supported by the European Investment Fund (EIF). The EIF, jointly owned by the European Investment Bank and the European Union, funds disruptive technologies across various sectors in Europe. Atlantic Labs, another major investor in Vyoma and fund manager, continues its support.
Vyoma is at the forefront of space industry innovation with its development of a space-based constellation. This system is designed to monitor space objects-ranging from space debris to satellites-across orbits from low-Earth to geostationary. The initial deployment will utilize optical sensors, which are essential for enhancing space domain awareness. These sensors will operate continuously, gathering detailed data that supports predictive analytics for mapping spatial asset evolution with high precision. This system is also equipped to detect anomalies and potential threats, promptly alerting defense entities.
This initiative underscores Vyoma's commitment to providing independent monitoring of space objects and ensuring the safety of assets in orbit, bolstering Europe's strategic autonomy and sovereignty in space. The first units of this monitoring system are scheduled for launch in early 2025.
The recent financial injection will fuel the progression of Vyoma's technology and facilitate the commercial use of data derived from its first and second-generation satellites. Moreover, the company plans to expand its engineering team to support these advancements.
Stefan Frey, co-founder and CEO of Vyoma, commented on the funding, stating, This investment acknowledges the urgent need to mitigate orbital risks and ensure the safety of space assets. Our surveillance system not only tracks most objects in low-Earth orbit over 1 cm but also identifies potential threats and malicious activities. This fusion of technology and strategic goals drives our initiative. We are also grateful for the continued support from Atlantic Labs.
Marjut Falkstedt, Chief Executive of the EIF, highlighted the investment's broader impact, The NewSpace industry is poised to develop technologies that influence various other industries. EIF's support through the InvestEU programme is vital for companies like Vyoma, enhancing not only the safety and security of space missions and satellite operations but also contributing to Europe's security and technological leadership.
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