Seraphim Invests Another $23.1M in Skylo

Seraphim Space Investment Trust has added $23.1 million to its investment in Skylo, a company helping ordinary connected devices communicate over satellite networks.

What happened

The UK-listed space investment trust disclosed an additional $23.1 million, approximately £17.5 million, in existing portfolio company Skylo Technologies. Seraphim first backed Skylo in 2023 and funded the latest follow-on using proceeds from its recent C Share issuance. Skylo provides software-defined non-terrestrial network infrastructure linking satellite capacity with mobile-network and device ecosystems. Its objective is to help compatible phones and connected equipment maintain basic communications beyond conventional cellular coverage. The announced amount is Seraphim's own follow-on investment, not necessarily the size of a newly completed company-wide financing round.

Why it matters

A large potential market exists for extending coverage to remote communities, logistics equipment and everyday mobile devices without requiring a dedicated satellite handset. Making that possible involves satellite operators, device makers, wireless standards and network providers working together. Skylo occupies part of the software and service layer that connects these systems.

The bigger picture

Satellite-to-device communications are becoming more competitive as space networks move closer to mainstream telecommunications. The value of the infrastructure will depend on coverage, latency, network agreements and how seamlessly devices switch between terrestrial and satellite service. Seraphim's investment reflects confidence in that convergence, but does not alone establish broad commercial adoption.