Singapore spacetech firm NuSpace secures seed funding from Beenext

Singapore spacetech firm NuSpace secures seed funding from Beenext
Singapore spacetech firm NuSpace secures seed funding from Beenext

NuSpace, which provides internet-of-things connectivity and data platform services from space using nano-satellites, has secured an undisclosed amount of seed funding from Japan-based venture capital firm Beenext.

The funding will help NuSpace build a constellation of nanosatellites to bring IoT connectivity to places deemed economically unfeasible, such as in the middle of the ocean, the company said in a statement.

It plans to launch a technology demonstration satellite by the end of 2020 and complete the deployment of the constellation by the end of 2022.

NuSpace, which is a spinoff from the National University of Singapore, was founded by Ng Zhen Ning and Luo Sha, who are researchers at the NUS Faculty of Engineering.

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