Satellite component manufacturer CubeSpace secures R47m funding

CubeSpace, a satellite component manufacturer started at Stellenbosch University, has secured R47m in new funding to expand its operations beyond SA.

The start-up, which has been in the industry for a decade, is a spin-out company of Stellenbosch University. It specialises in attitude determination and control system (ADCS) solutions for more than 150 global clients. ADCS is responsible for maintaining a satellite’s orientation and stability in space.

Stellenbosch has nearly 30 spin-out companies.

The company partners with major space agencies such as Nasa, and the European Space Agency.

On Tuesday, the manufacturing company said it had secured R47m in venture capital funding led by the University Technology Fund — a private sector initiative set up by the SA SME Fund, and co-investor Savant Venture

Fund, based in Cape Town.

Interest in satellites has grown worldwide since Elon Musk launched Starlink a few years ago.

CubeSpace specifically plays in the cubesat market. A cubesat is a miniature satellite built to a standard size and form factor, being a cube measuring 10cm on each side. Multiple units can be joined together to create larger cubes. Each unit has a mass of no more than 2kg.

The small size and low weight is one of the main advantages of this form factor as it helps to keep costs low. Compared

to traditional satellites, cubesats are much cheaper to build and launch, making them an attractive option for universities, research institutions, and start-ups.

“Gone are the times when satellite manufacturing is reserved for governments of large first-world countries,” CubeSpace CEO Mike-Alec Kearney said.

“We have developed a modular and low-cost control system capable of controlling any size satellite, which will help researchers, private companies, and governments globally build satellites a lot quicker, with smaller teams, and at much lower cost.”

Kearney and his team have built a reputation after successfully controlling more than 300 satellites, and being endorsed by Nasa. The company aims to strengthen its foothold in the US and European markets.

The company says the strategic shift is backed by 50% annual growth over the past four years.

CubeSpace has already secured its first six contracts for microsatellites, with the largest contract being for a 400kg Earth observation satellite destined for very low orbit at 200km. “This achievement underscores its strong position in the international satellite industry and demonstrates the industry’s trust in the company’s capabilities,” the company said.

Satellites operate at different levels above the Earth’s surface. Low Earth orbit satellites like those operated by Starlink operate at an altitude of 2,000km or less. This is relatively close compared to other orbits, such as geostationary satellites, which are at an altitude of more than 35,000km. Medium orbit satellites operate at 2,000km8,000km.

CubeSpace has been involved in the development of control systems for the UAE lunar rover and is building such systems for three more lunar rovers, which it says “will contribute to the colonisation of the moon and Mars”.

Technology Correspondent

GONE ARE THE TIMES WHEN SATELLITE MANUFACTURING IS RESERVED FOR GOVERNMENTS OF LARGE FIRST-WORLD COUNTRIES