Thursday, 22 August 2019 12:40

Kleos raises $3 million in extra funds for second cluster of satellites

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Kleos raises $3 million in extra funds for second cluster of satellites Image Somchai Som, FreeDigitalPhotos.net

Space technology operator Kleos Space has secured $3 million in funding for its second cluster of satellites.

Kleos CEO Andy Bowyer says the funding – by way of a debt instrument - enables the company to accelerate business development and revenue generating activities, and to place orders for the 2nd cluster of satellites for their 2020 launch.

“We will now recruit additional product development engineers and management to assist with the delivery of our data products, we will also recruit sales and sales support professionals to help respond to inbound sales enquiries and manage key accounts, increasing orders and contracts,” Bowyer said.

“Procurement of our 2nd cluster of satellites can now commence, and 2020 launch to be booked over the coming quarter.

“This second cluster will collect more data which in turn means an improved and higher value product for our customers.”

Earlier this month Kleos announced it has signed a binding MOU with environment monitoring centre EarthLab to examine collaboration opportunities for the use of Kleos RF Reconnaissance and Geolocation data for the insurance sector.

EarthLab was the first European centre established for environment monitoring dedicated to industrial and environmental risk.

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Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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