LONDON: Allied Minds plc announced that its portfolio company, Orbital Sidekick Inc., has conditionally secured $16 million in a Series A Preferred financing round led by Temasek, an investment company headquartered in Singapore.
Round participants also include other new investors and existing investors Allied Minds, committing $2.5 million (including conversion of its SAFE), and 11.2 Capital.
Proceeds from this financing will allow Orbital Sidekick to focus on scaling its business and growing its sales pipeline to more rapidly bring its products to market and enable it to launch two additional advanced hyperspectral imaging satellites to support its customers.
Allied Minds plc is an IP commercialisation company focused on early stage company development within the technology sector. With origination relationships that span US federal laboratories, universities, and leading US corporations, Allied Minds historically created, and now manages and funds, a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services.
Orbital Sidekick’s proprietary analytics platform and hyperspectral payload architecture provide persistent space-based monitoring solutions powered by Spectral IntelligenceTM. This unique radiometric speciation and change detection capability enables unparalleled target monitoring services for both commercial and defense users on a global scale.