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The CHF 25 million working capital facility from UBS is intended to provide SWISSto12 with flexible growth capital to meet customer demand for its geostationary SmallSat HummingSat.
Swissto12 has more than 200,000,000 EUR in orders for HummingSats and its radio frequency product business combined.
Intelsat ordered the IS-45 satellite from Swissto12 in the November prior to the IS-45 launch contract.
SWISSto12 secured a CHF 25 million (€26.15 million) working capital facility from UBS Switzerland AG.
The IS-45 satellite is based on the HummingSat platform that Swissto12 developed with support from the European Space Agency.
Swissto12 raised about $28,000,000 in debt to scale up its manufacturing business.
Since its founding in 2011, SWISSto12 has raised over €50 million in venture capital from investors including Constantia New Business (CNB Capital), Swisscom Ventures, Swisscanto, and Zürcher Kantonalbank (ZKB).
Swissto12 has raised more than 50,000,000 EUR in venture capital funding since spinning out of a Swiss university in 2011.
HummingSat is a SmallSat designed for geostationary orbit developed by SWISSto12 in collaboration with ESA through a public-private-partnership program.
SWISSto12 announced a deal in 2022 to supply a HummingSat satellite to Intelsat.
Intelsat ordered the IS-45 satellite last November from Swissto12.
The IS-45 satellite is based on the HummingSat platform that Swissto12 developed with support from the European Space Agency.
Swissto12 announced contracts in 2023 related to small geostationary satellites using 3D printing technologies.
Viasat-owned Inmarsat ordered three small satellites from Swissto12 in May for a launch in 2026.
Swissto12 estimates that smaller GEO satellites reduce costs by between three and 10 times compared with larger GEO satellites.
Swissto12’s first GEO satellite for Intelsat is slated to launch in 2025.
Inmarsat ordered three satellites from 3D-printing specialist Swissto12 that weigh around 900 kg each.
Swissto12’s first commercial satellite is slated to launch in 2025 on a mission for Intelsat.
SWISSto12, headquartered in Switzerland, will use its HummingSat satellite platform to develop and manufacture the I-8 geostationary satellites.
Inmarsat selected SWISSto12 to develop three I-8 eighth-generation geostationary satellites to provide additional network resilience.