Estonian space startup Spaceit, which offers an end-to-end infrastructure for satellite operations and space cybersecurity solutions, said it has raised €1 million in pre-seed funding to expand its activities. The round was led by Icebreaker.vc from Finland and included UG Investments from Estonia.
Spaceit has developed a cloud-based mission control platform with pre-integrated access to a worldwide network of ground stations and provides satellite operations simulators to strengthen the rapidly growing space sector against cyberattacks.
“Our goal is to reduce satellite missions budgets by over 80% by offering mission control as-a-service, combined with wide and secure communication with satellites. We are delighted to have the new investors with good know-how on space, technology and infrastructure onboard who will support us in developing our solution further,” said Silver Lodi, CEO of Spaceit.
Riku Seppälä, General Partner and Co-Founder of Icebreaker.vc added “The Spaceit team has a deep understanding of the requirements of modern space operations. They have developed a strong technology that provides an essential service at a fraction of the cost of alternatives as well as providing better radio coverage. We’re thrilled to be onboard to support the team in creating a winning software and space technology company.”
Spaceit was founded in 2015 by Silver Lodi, Lauri Kimmel and Mihkel Jalakas, all long time friends since high school. Lodi’s experience includes corporate banking and sales.Kimmel was a team member of the ESTCube-1, the first Estonian satellite that was launched in 2013. He and Jalakas have been engaged in software development since the early 2000s. Spaceit is an alumnus of ESA Business Incubation Centre in Estonia and Starburst Accelerator.
