Spherical Systems, located in the ESA Business Incubation Centre in Noordwijk, is raising an investment totalling almost 1 million euros for the development of its own chip that is specially designed for the extreme conditions in space. The investments to date include UNIIQ, three business angels, venture capital investors Antler and Graduate Entrepreneur Fund, and a Eurostars grant. The investment was announced by Dutch Member of Parliament Pim van Strien at SBIC Noordwijk.
New chip for extreme space conditions
The conditions in space are extremely extreme, while maintenance is virtually impossible. It is not easily possible to send a technician into space. It is therefore important that everything that is launched continues to work. That is why the production of extremely reliable parts has always been very important. The problem is that these parts are also very expensive, and the business model has not changed since the space race in the 1960s.
Since the rise of the commercial space industry, the price of everything that is launched has been under increasing pressure. The classic spaceflight microchips are far too expensive, so inferior chips are used in the hope that they will last just long enough. With a smart architecture and a modern design vision, Spherical Systems makes chips that are actually suitable for space, while they are many times cheaper than old space chips. By using these chips in their own systems, Spherical Systems develops systems for space that are many times more reliable for a comparable price.
Next for Spherical Systems
Spherical Systems has now raised a total of almost 1 million euros in funding. In addition to VroegeFaseFinanciering Powered by UNIIQ, it has also received an investment from three business angels, venture capital investors Antler and Graduate Entrepreneur Fund, a loan from Rabobank and a Eurostars grant. With this investment, the company can produce its first chips specially designed for the extreme conditions in space. By integrating these homemade chips into their systems, Spherical Systems makes more reliable products for space travel.
Thomas Parry CEO and founder Spherical Systems: “The financing announced today allows us to fully fund the initial journey of our product development and team growth. This allows us to demonstrate the technical and commercial relevance of Spherical on the world stage. We are grateful for the support of UNIIQ and other investors as we build our pioneering approach in the industry. We look forward to building on the strengths of the South Holland region to expand strategic opportunities within the space and semiconductor industries over the next decade.”
With these investments, the company can produce the first iterations of the chips and develop the first systems, working towards an initial launch. In addition, they can further develop their own chip design tool, in order to continue making more and more different chips for the market. The company expects to grow from 2 to 6 FTE.
Proof-of-concept fund UNIIQ sees Spherical Systems as an innovative addition to the aerospace cluster in South Holland. Jasper Geselschap, Fund Manager of UNIIQ: “The in-depth skills of the founders Thomas Parry and Bastiaan Bom in combination with the strong mutual synergy create a very strong team to take SPHERICAL to the next phase.”
This is an edited version of the press release originally published on the UNIIQ website.
NOTES FOR EDITORS
Contacts:
- Spherical Systems – Thomas Parry, CEO (t.parry@spherical-systems.com) and Bastiaan Bom, CCO (b.bom@spherical-systems.com)
- UNIIQ – Willem van Holthe, Investment Manager (willem.vanholthe@uniiq.nl)
About UNIIQ
UNIIQ is a 28.8 million euros investment fund focused on the proof-of-concept phase. UNIIQ helps entrepreneurs in South Holland to bring their unique innovation to the market faster. We offer entrepreneurs the starting capital to realise their plans and bridge the riskiest phase from concept to promising company. The fund was established by a consortium consisting of Erasmus MC, TU Delft, Leiden University and the regional development company InnovationQuarter. Erasmus University Rotterdam recently joined this consortium. UNIIQ was made possible by the European Union, the province of South Holland and the municipalities of Rotterdam, The Hague and Leiden. The new Early Phase Financing Powered by UNIIQ instrument is made possible by the Ministry of Economic Affairs, RVO, the Province of South Holland and the Municipality of The Hague. The fund management is carried out by InnovationQuarter. uniiq.nl
Photo caption:
Spherical’s founders Thomas Parry (second left) and Bastiaan Bom (fourth left) with (L–R): Willem van Holthe (UNIIQ), Pim van Strien (Dutch Member of Parliament), Jasper Geselschap (UNIIQ) and Martijn Leinweber (SBIC/ESA BIC Noordwijk)
Open call for startups with space business ideas to apply to ESA BIC Noordwijk:
