PARIS, FRANCE: Karista and Eutelsat Communications today announced a new strategic partnership which will see Eutelsat become a new subscriber to the venture capital (VC) firm’s Spacetech fund. This will add to Karista’s ability to fully harness the unprecedented momentum that is building up in the space economy.
For Eutelsat, the new partnership consolidates its existing close ties with the industry’s innovative start-ups and plays a key role in the development of a vibrant space ecosystem featuring the latest in space technology in France and across Europe. With the addition of a leading satellite operator, satcom players are increasingly turning their attention to the far-reaching changes taking place in this ecosystem and witnessing the emergence of a new space economy featuring a host of new applications.
Since September 2021, Karista’s Spacetech fund has backed young French and European companies involved in the Spacetech revolution, with seed/series A investments ranging between €1 million and €5 million. Karista’s preferred target is high-potential start-ups involved in designing new infrastructures on the ground and in orbit, and leveraging the massive surge in available data to build innovative, transformative solutions for various economic sectors and industries.
Karista’s team of dedicated investors backs impactful businesses in all areas of the economy, with a special focus on sovereignty and sustainability (insurance, finance, agriculture, energy, transport, environment, telecommunications, security, etc.).
Eva Berneke, CEO of Eutelsat Communications, said: “We are thrilled to contribute to the growth of a number of French and European start-ups that are delivering innovative solutions and services in the space industry. Our partnership with Karista’s Spacetech fund further cements Eutelsat’s close ties with NewSpace start-ups and, more importantly, enables ambitious innovative projects to come to fruition and take shape. Ultimately, the entire European space ecosystem will gain from this vibrant, forward-looking momentum.”
“It is with great pride that our investment team welcomes Eutelsat as a new investor in the Spacetech fund. This new partnership confirms the growing interest of the world’s leading satcom players in a fast- expanding, rapidly changing market with potential growth drivers for industry. It is also a token of recognition for our team, whose day-to-day efforts are focused on creating and sharing performance in a unique segment of the market that is experiencing rapid technological evolution”, Olivier Dubuisson, Chairman of Karista, commented.