Switzerland-based satellite communications equipment supplier Swissto12 has completed a SFr 18.1m ($18.5m) round co-led by subsidiaries of telecommunications firm Swisscom, financial services firm Zürcher Kantonalbank and industrial conglomerate Constantia Industries.
The corporates took part in the series B round through respective corporate venturing units Swisscom Ventures, Swisscanto Invest and Constantia New Business.
Founded in 2011, Swissto12 uses3D printing technology to manufacture onboard components for satellites. Its first product is a lightweight, 3D-printed antenna intended for compact satellites – known as smallsats – which typically orbit in clusters.
The antennas are marketed as being more versatile than alternative technologies, and Swissto12 will put the series B proceeds towards increasing industrial production capacity ahead of their planned commercial release.
The cash will also be used to help develop new smallsat communications technologies, identify opportunities in the adjacent 5G communications segment and expand Swissto12’s newly-opened US and Israel offices.
Swisscanto Invest and Swisscom Ventures will gain representation on Swisst012’s board of directors. Nil Granath, responsible for ICT deals at Swisscanto’s Private Equity Switzerland Growth I fund, and Pär Lange, investment partner at Swisscom Ventures, were indirectly named in the announcement.
Lange said: “As the satellite industry is transforming, with many low earth constellation initiatives on the way, we believe that Swissto12 will have an important part to play in this development and we are excited to be part of that journey together with Swissto12.”
Constantia New Business had previously led a round of undisclosed size for Swissto12 in 2016 that included unnamed private Swiss investors, and which enabled research university Swiss Federal Institute of Technology Lausanne to buy shares.