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.
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.