The UK Government led the round with a £20m investment to support upcoming rocket launches and development programmes.
"Britain’s impressive toolkit of scientific talent, world class facilities, and unique geography means we stand ready to lead the charge and to work together with our international partners as a key part of the new space revolution in Europe."
— Peter Kyle, Secretary of State for Science, Innovation and Technology
The funding round forms part of a wider £20m financing package to accelerate the deployment of the HotSat constellation.
"With the invaluable new support from Adara Ventures, alongside the continued backing of our existing investor network, we’re accelerating our mission to deliver unparalleled thermal insights that empower industries and governments to take decisive climate action. The launch of HotSat-2 and HotSat-3 will bring us closer to a net-zero future by providing the data needed to address the most pressing environmental and energy challenges of our time."
The investment was led by the BOKA Group to fund the commercial launch of the firm's first-generation terminal.
"All of our investors’ confidence reflects the critical role our technology plays in addressing the growing demand for resilient and seamless connectivity across defence and space industries. We are laser-focused on executing our strategy and delivering the cutting-edge solutions our partners and customers rely on, ensuring critical communications in the most challenging environments."
The funding will support a sub-orbital rocket test from the SaxaVord spaceport using capital from the National Space Innovation Programme.
"These new projects will help kickstart growth, create more high-quality jobs, protect our planet and preserve the space environment for future generations. They go to the heart of what we want to achieve as a national space agency that supports cutting-edge innovation, spreads opportunity across the UK, and delivers the benefits of space back to citizens on Earth."
The investment was supplied by Oxford Innovation Finance through its EIS Growth Fund 3 and OION Angel Network.
"We are excited by the advancements Oxford Space Systems has made in recent years, developing its product portfolio, client base, and financial performance. This growth funding round will enable us to pursue the development of additional high-potential products and extend our market presence by enabling our customers’ growth strategies."