Bright Ascension secures £2.3m to advance its satellite software products
The company has raised funds from backers including Scottish Enterprise and Capital for Colleagues to support the commercial release of its HELIX suite.
Bright Ascension is a space software technology provider offering modular off-the-shelf products for spacecraft and ground operations. The company delivers solutions designed to accelerate mission development and reduce total costs.
Bright Ascension has secured £2.3m in a convertible loan investment round featuring participation from Scottish Enterprise, Capital for Colleagues and other backers. The capital incorporates a £1.5m bridging loan previously obtained in October 2023 from Capital for Colleagues, Bill Ainscough and TJ Morris Limited. The financing supports the ongoing development and market introduction of the company's HELIX satellite software products.
The transaction coincides with commercial momentum, reflected by a 50% increase in first-half sales compared to the previous financial year. The business has also appointed John Baughn as Executive Chair to provide strategic oversight during this growth phase.
From the founder
"I am delighted and honoured to be taking on the chairmanship for Bright Ascension at this very exciting point in time and looking forward to helping steer the company towards a very successful future"
John Baughn
Executive Chair of the Board at Bright Ascension
Investor perspective
"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."
Alistair Currie
Chief Executive, Capital for Colleagues
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
Investors
Categories
About the company
Bright Ascension
Bright Ascension develops innovative space software technology for satellite missions.