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HomeFinTechKleos Space: Secures A$5.5M to launch second group of satellites

Kleos Space: Secures A$5.5M to launch second group of satellites

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Kleos Space: Secures A$5.5M to launch second group of satellites

  • Kleos Space (KSS) has entered a A$5.5 million loan agreement with Dubai-based family office Winance
  • Winance is a Dubai-based investment company who is providing funds for Kleos to execute its commercialisation plans
  • The data-as-a-service company will use the funds to launch its second cluster of satellites
  • The first satellites were dispatched to India last month and Kleos is waiting for revenue
  • Additionally, Kleos will use the loan funds to repay short term debt and expand its global presence
  • Kleos Space is down 12.7 per cent and shares are trading at 31 cents each

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