In-Space Missions, is the latest company to secure funding from the Enterprise M3 Expansion Loan Scheme. The £300,000 loan will help the business grow its innovative ‘Space as a Service’ model.
In-Space Missions was established in 2015 by Tony Holt and Doug Liddle to provide a managed service that would enable customers to access space, reducing their costs and helping them overcome the barriers to entry when breaking into the space market.
The company began operations at the BASE Innovation Centre in Bordon and recently expanded into new offices in Alton, Hampshire with dedicated manufacturing facilities.
In-Space Missions are experts with a new space approach offering “Space as a Service” to commercial and government customers. This can involve the design, build, launch and operation of satellites and offers low-cost payload flight opportunities.
The In-Space model allows for much quicker and easier access to space for customers who take a ‘slot’ on board rather than having to manage the entire mission themselves. Increasingly it is also becoming possible for a customer to upload their payload onto a satellite already on orbit.
The funding will be used to finance the move to the new premises to accommodate additional staff and provide increased manufacturing capability, as well as part-funding the development of a higher performance satellite platform.
Tony Holt, CTO and Co-Owner of In-Space Missions, commented: “At In-Space Missions we are passionate about using our experience and innovative approach to democratise space, opening up the benefits of this sector to more businesses across the globe. This EM3 expansion loan will help us increase our capacity to deliver “Space as a Service” and achieve this goal. The FSE Group has recognised the potential of our business model and we are grateful to Derek and the team for their support in helping us secure the funding to drive our business forward.”