LONDON (Alliance News) - Intellectual property commercialization company Allied Minds PLC said Monday its portfolio company HawkEye 360 raised USD9.6 million in the first closing of a series A-3 financing round.
The round included Razor's Edge Ventures LLC, a US aerospace & defense company and Allied Minds, as well as Shield Capital Management Ltd, the company said, with additional investors expected to join in the following rounds.
"Proceeds from the transaction will be applied to fund the development, build and launch costs of the company's first commercial satellite cluster and for general commercial purposes," the company said.
HawkEye is a data analytics company seeking to commercialise the capability to detect, geo-locate and analyse radio frequency signals from space, Allied Minds explained.
Allied Minds shares were trading 1.2% higher at 85.68 pence each.
