Penningtons Manches Cooper advises advanced satellite technology company Open Cosmos on $50 million fundraise

Posted: 20/10/2023

The corporate team at Penningtons Manches Cooper has advised Open Cosmos on securing its $50 million Series B funding round led by Trill Impact, A&G and ETF Partners. 

Open Cosmos designs, builds and operates satellites, offering end-to-end space mission services, and uses the power of satellites to simplify and democratise access to space and space data.

The company was founded in 2015 and is one of the fastest growing companies in the satellite sector. Its mission is to allow all organisations to access the benefits of satellite data and insights to address global issues such as the climate crisis, the energy transition or the sustainable use of natural resources.

A world leader in delivering end-to-end telecommunications, earth observation (EO), navigation and scientific missions, through its OpenOrbit offering, Open Cosmos designs, builds, launches and operates advanced satellites. It also enables organisations to access and share data via its mutualised OpenConstellation infrastructure, and offers AI-powered data analysis from a growing range of satellite sources and analytic partners via its DataCosmos platform. This dramatically lowers the costs, complexity, and timescales of missions, and also simplifies access to EO data in a way that removes the barriers for all companies to address society’s most urgent challenges. 

The proceeds from this fundraising will enable Open Cosmos to accelerate its growth, expand its offerings, facilitate international expansion, and continue to deliver market-leading innovation.

The team advising Open Cosmos was led by corporate partner James Went and senior associate Dominique Sabatini, with support from trainee Iona Todd, IP, IT and commercial team partner Joanne Vengadesan, and senior associate Nora Pook. 

Rafel Jorda Siquier, CEO and founder at Open Cosmos, said: “Our successful Series B funding, with the support of such prominent ESG and impact investors, is a testament to our commitment to sustainability and innovation. This investment will propel us forward and I’d like to thank James and Dominique and the wider team at Penningtons Manches Cooper for their help in this key step forward for Open Cosmos.”

James Went, partner at Penningtons Manches Cooper, commented: “Open Cosmos is such an exciting business with the potential to help address critical global issues. It was great working with their impressive management team to deliver this successful Series B fundraising.”

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