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Allied Minds Invests Further USD2.5 Million In Orbital Sidekick

Thu, 24th Dec 2020 07:36

(Alliance News) - Allied Minds PLC on Thursday said its portfolio company Orbital Sidekick Inc has secured USD16.0 million in a series A preferred financing round led by Temasek, an investment company headquartered in Singapore.

The Boston, US-based intellectual property commercialization company noted that round participants also include other new investors and existing investors. Allied Minds said it is committing USD2.5 million.

Allied Minds said proceeds from this financing will allow Orbital Sidekick to focus on scaling its business and growing its sales pipeline to more rapidly bring its products to market and enable it to launch two additional advanced hyperspectral imaging satellites to support its customers.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

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