English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 22 April 2024, 15:09 JST

Source: NEC Corporation
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II

TOKYO, Apr 22, 2024 - (JCN Newswire) - NEC Corporation (NEC; TSE: 6701) today announced a strategic investment in "Seraphim Space Venture Fund II," a pioneering venture capital fund specializing in the space industry and operated by Seraphim Space, the most prolific investor globally in this domain.

Seraphim Space boasts a distinguished portfolio comprising over 100 space-related startup companies, covering a spectrum of stages from seed to later stages. Their investments span the entire space ecosystem including upstream (satellite manufacturing, launch, space stations, return to earth logistics and in-orbit services such as debris removal) to downstream (utilization of satellite data in areas such as climate and sustainability, telecommunications, IoT, positioning and navigation).

Seraphim Space Venture Fund II, in which NEC is investing, was created to support the next generation of early-stage space companies worldwide seeking funding.

"NEC has long been involved in space-related business, including the development and manufacture of satellites," said Etsuko Hirose, General Manager, Aerospace and National Security Business Planning Department, NEC. "To further expand its business, NEC aims to foster collaboration with Seraphim Space portfolio companies across both upstream and downstream sectors, thereby advancing our global space-related business. This investment in Seraphim Space Venture Fund II underscores NEC’s unwavering dedication to advancing innovation and harnessing its potential for the betterment of society."

Mark Boggett, Chief Executive for Seraphim Space Manager LLP, said: "We are delighted to have NEC, a leading global information technology and electronics corporation, as a key investor in the fund."

Boggett elaborated on the growth potential of the space sector, highlighting the myriad technological advancements driving innovations across industries. "The space sector's rapid expansion presents unprecedented opportunities for disruptive growth and consolidation. The Seraphim Space Venture Fund II is uniquely positioned to support the next generation of space startups, including those emerging in fast-growing Asian markets."

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

Topic: Press release summary
Source: NEC Corporation

Sectors: Aerospace & Defence
From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

NEC Corporation Links






NEC Corporation Related News
Thursday, 18 July 2024, 15:34 JST
VitalLife and Bumrungrad International Hospital in Thailand Launch NEC's FonesVisuas Test: First Major Deployment Outside Japan, Revolutionizing Disease Risk Prediction
Tuesday, 16 July 2024, 17:45 JST
NEC technology reliably measures sea levels from a greater distance
Monday, 15 July 2024, 16:58 JST
NEC transfers a portion of its shares in NEC Capital Solutions, an equity method affiliate
2024年7月10日 9時00分 JST
Monday, 1 July 2024, 23:00 JST
NEC awarded by e& for contributions to digital transformation and partnership strength
More news >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575