IOT

UNSEENLABS announces a record-breaking fundraising of €85 million

the company revolutionizes the maritime surveillance sector from space with its  constellation of satellites dedicated to detecting radio frequency signals. 

Unseenlabs, a France-based company and global leader in maritime surveillance through detection and  geolocation of radio frequency signals from space, announces the closure of an exceptional fundraising  round of €85 million. This operation, one of the largest in the space industry, confirms the global interest  in Earth observation and marks a new milestone in Unseenlabs’ development. This new funding round  brings together new leading investors: Supernova Invest, ISALT via its Strategic Transition Fund, and  UNEXO.  

All of Unseenlabs’ historical partners – 360 Capital, OMNES, Bpifrance, Breizh Up managed by  UI Investissement, and S2G Ventures – also reaffirm their support for this new phase by investing  in the new funding round. 

The strategic  allocation  of funds will  focus on:  

> Consolidation of activity within private sector segments, such as oil and gas, insurance, shipowners,  economic intelligence,  and offshore energy. 

> Significant expansion of observation capabilities, with the  launch of multiple  satellites. 

> Strengthening  Unseenlabs’ international presence, particularly  in the American and  Asian markets, which  are crucial for the  

maritime sector. 

> Recruitment of new talent, supporting the company’s strategic  vision and operational  excellence. 

> Innovation and deployment of new products and solutions, thereby  reinforcing Unseenlabs’  position as a leader in  RF maritime  

surveillance solutions.

“After our previous fundraising rounds in 2018 and  2021, we are proud to announce this new €85 million  fundraising. Unseenlabs has accumulated a total funding  of €120 million since its inception. This reflects our  steady progress and the continued confidence of our  investors. The year 2023 marked an inflection point for  Unseenlabs, reinforcing the relevance of our business  model and the attractiveness of our offering in the  market. This funding will allow us to accelerate our  growth, particularly by developing new solutions and  strengthening our presence in the private sector. We  have the means to achieve our ambitions and are excited to  continue this journey with our historical partners while  welcoming new ones,” declared Clément Galic and  Jonathan Galic, co-founders of Unseenlabs. 

Founded in 2015 by the Galic brothers,  Unseenlabs is revolutionizing maritime  surveillance through its proprietary technology  for detecting radio frequency signals emitted  by ships, enabling precise geolocation of boats from space. Unseenlabs works with dozens  of clients internationally, addressing various  issues: securing maritime areas, protecting the  seabed, tracking ships, combating piracy, etc. To date, the Unseenlabs constellation consists  of 11 satellites in orbit located between  500- and 600-kilometer altitudes.  Unseenlabs aims to deploy an additional  10 satellites by the end of 2025, improving  the performance of the constellation, such as the age of information for its customers. 

Next month, Unseenlabs will see its constellation  augmented by two new satellites, BRO-12 and  BRO-13. These satellites will be launched aboard  a SpaceX Falcon 9 as part of the Transporter-10 mission from the Vandenberg  Space Force Base (USA). 

This new fundraising will enable Unseenlabs  to intensify its technological innovations and  expand its service offering, while strengthening its  position as a global leader in RF signal detection.  Investors, attracted by the technological  breakthrough brought by Unseenlabs and the  strength of its economic model, are committed  to supporting the company’s long-term vision. 

“Unseenlabs stands out for its innovative  approach and its ability to redefine the standards  of space observation of radio frequencies. We are  convinced of its potential to stay a major global  player. The decisive factors of our investment lie in  their disruptive technology and the value-addition  of their data, crucial for both state  maritime missions and private sector markets,”  emphasized Etienne Moreau, partner at  Supernova Invest. 

Laurent Piccoli, Partner at ISALT, stated:  “By partnering with Unseenlabs, ISALT once  again chooses the long-term and invests in the  future. We are delighted to participate in  financing the industrial ambitions of this  SME that has developed a unique location  technology. Through this partnership, the  Strategic Transition Fund  

continues its commitment to finance and support the  most competitive French future champions in their  sectors, which our country needs.” 

“UNEXO is proud to support Unseenlabs, a flagship of  Breton innovation. Our investment reflects our  commitment to promoting the entrepreneurial  dynamism of our region. Together, we are writing a  new chapter of technological success in the Grand  Ouest,” said Jérémy Durand, head of venture  capital activity at UNEXO Capital investment  fund. 

All historical partners express their support of  this new phase, notably Nicolas Berdou,  Investment Director at Bpifrance, who states: “The continued commitment of the French  Ministry of Armed Forces and Bpifrance in the  New Space domain is reinforced with this renewed  participation in this new Series C round carried out  by Unseenlabs. This step not only validates their  technological solution and their economic model  but also strengthens their position as a global  leader in data and as a leading service provider for maritime surveillance.” 

Laurent Le Portz, Investment Director at UI  Investissement, adds:”Through the renewed  commitment of Breizh Up, which has been  present since the first round, the Région Bretagne  reaffirms its intention to support the development  of Unseenlabs and its Earth observation  technologies aimed at protecting our oceans and  maintaining environmental balances.” 

In addition to this investor ecosystem,  Unseenlabs also benefited from the support  of a consortium of leading banks, coordinated  by the Caisse Régionale de Crédit Agricole  Mutuel d’Ille-et-Vilaine, acting as coordinator  and agent. The banking pool includes Banque  CIC Ouest, Banque Populaire Grand Ouest,  Caisse d’Epargne et de Prévoyance Bretagne – Pays de Loire, and Caisse de Crédit Mutuel, thus demonstrating significant confidence in Unseenlabs’ vision and growth potential. Furthermore, Barclays’ contribution as an investment bank was crucial in supporting Unseenlabs in its fundraising efforts, alongside the banking pool. 

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