Australia's Skykraft raises $75m

It comes three months after the company demonstrated the feasibility of its core technology with a space-based test of voice radio communications in the VHF band. VHF is the frequency range typically used between pilots and air traffic controllers.

Currently, VHF voice communications services are only available when the aircraft is within range of a ground-based radio. This means that large areas of the Earth’s surface, including much of the world’s oceans, are not covered.

Foresight Australia, the local subsidiary of the UK-listed fund manager, and Canadian pension fund OPTrust also joined the round, according to The Australian Financial Review.

“Skykraft is doing truly groundbreaking work that has the potential to transform aviation communications infrastructure,” Martin Duursma, a partner at Main Sequence, was quoted as saying.

“By reinventing transport infrastructure from the ground up using space-based platforms, they can increase air safety and address the gaps in surveillance and communications over oceans and remote regions.”

Established in 2017 as a university spin-off, Skykraft is developing a constellation of more than 200 air traffic management satellites in low-earth orbit. Its next mission is scheduled for 2024. The initial constellation is planned to enter service in 2025.

Main Sequence, originally part of national science agency CSIRO, reached a AUD 450m (USD 305m) first close on its third fund in July, bringing overall funds under management as an independent entity to about AUD 1bn. The firm retains close ties to CSIRO, especially in terms of portfolio support.

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• Topics
• Australasia
• Technology
• Early-stage
• Infrastructure
• Australia
• OPTrust
• space
• Main Sequence Ventures