Insider Brief:
- Bright Ascension raised £2.25M in its most recent investment round led by Scottish Enterprise, Capital for Colleagues (C4C), and other investors.
- The company has seen significant growth in the past year with a 50% increase in first-half-year sales.
- Bright Ascension also announced John Baughn as the new Executive Chair of the Board.
- Image credit: Bright Ascension
Bright Ascension, a leading space software technology company, raised £2.25M in its most recent investment round. The funding will support the continued development and market release of the company’s innovative HELIX suite of satellite software products.
The investment round was led by Scottish Enterprise, Capital for Colleagues (C4C), and other investors. This includes a £1.5M bridging loan from C4C, Bill Ainscough, and TJ Morris Limited, which has now transitioned into a convertible loan as part of the current funding round.
“This funding injection not only provides us with the necessary financial resources but also serves as a vote of confidence in our technology and commercial strategy,” said Peter Mendham, CEO of Bright Ascension. “With this support, we are well-positioned to accelerate the final stages of development and market release of our innovative HELIX products.”
Bright Ascension also announced John Baughn as the new Executive Chair of the Board. Baughn brings over 40 years of experience in managing space operations and telecommunications organizations, with expertise in sales strategy, business development, and customer service.
The investment and strategic leadership addition comes at a time of significant growth for Bright Ascension. The company has experienced a 50% increase in first-half-year sales compared to the same period in the previous financial year.
“We are extremely pleased to see this enhancement of the Bright Ascension team and further endorsement of the company’s technology and commercial strategy. Bright Ascension is now positioned to accelerate the final stages of development and market release of its innovative HELIX products,” said Alistair Currie, Chief Executive of Capital for Colleagues.
For more market insights, check out our latest space industry news here.
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