Eutelsat partners with Karista’s Spacetech fund
September 5, 2023
Karista and Eutelsat Communications have announced a new strategic partnership which will see Eutelsat become a new subscriber to the venture capital (VC) firm’s Spacetech fund.
For Eutelsat, the new partnership consolidates its existing close ties with the industry’s start-ups and plays a key role in the development of a vibrant space ecosystem featuring the latest in space technology in France and across Europe.
Since September 2021, Karista’s Spacetech fund has backed young French and European companies involved in the Spacetech revolution, with seed/series A investments ranging between €1 million and €5 million. Karista’s preferred target is high-potential start-ups involved in designing new infrastructures on the ground and in orbit, and leveraging the surge in available data to build innovative, transformative solutions for various economic sectors and industries. Karista’s team of dedicated investors backs impactful businesses in all areas of the economy, with a special focus on sovereignty and sustainability (insurance, finance, agriculture, energy, transport, environment, telecommunications, security, etc.).
Eva Berneke, CEO of Eutelsat Communications, said: “We are thrilled to contribute to the growth of a number of French and European start-ups that are delivering innovative solutions and services in the space industry. Our partnership with Karista’s Spacetech fund further cements Eutelsat’s close ties with NewSpace start-ups and, more importantly, enables ambitious innovative projects to come to fruition and take shape. Ultimately, the entire European space ecosystem will gain from this vibrant, forward-looking momentum.”
“It is with great pride that our investment team welcomes Eutelsat as a new investor in the Spacetech fund. This new partnership confirms the growing interest of the world’s leading satcom players in a fast- expanding, rapidly changing market with potential growth drivers for industry. It is also a token of recognition for our team, whose day-to-day efforts are focused on creating and sharing performance in a unique segment of the market that is experiencing rapid technological evolution,” added Olivier Dubuisson, Chairman of Karista.