Troubles in the New Space Race, Fundings: Anecdotes, Novo Space, Rincell
Troubles in the New Space Race, Fundings: Anecdotes, Novo Space, Rincell
10 January 2024 - A Weekly Publication by New North Ventures
We are thrilled to share the exciting news that HawkEye 360 and its CEO John Serafini have earned recognition on Business Insider's list of top 100 AI leaders. Serafini, steering HawkEye 360's innovative work in space-based RF tech, is making waves in communication, navigation, and threat identification. This earned him recognition in the top 7!
We're proud of this achievement and the ongoing impact of HawkEye 360's investments in AI and machine learning. Congrats to the entire HawkEye 360 team!
To read more about it, click here.
The New Space Race Is Causing New Pollution Problems
In a high-altitude chase over Cape Canaveral, a NASA research pilot pursued a SpaceX Falcon 9 rocket to collect data on the environmental effects of its plume, marking the increased frequency of rocket launches by commercial companies like SpaceX, Amazon, and others.
The surge in satellite launches, predicted to reach one million, raises concerns about escalating emissions from rockets, with scientists fearing the scattering of pollutants in Earth's atmosphere and potential impacts on the ozone layer in the stratosphere.
Studies indicate that rocket exhaust, particularly soot, could have significant climate effects, magnifying the growth of the space industry. The atmospheric impact of satellite disintegration upon re-entry further adds to environmental concerns.
While scientists emphasize the need for regulations to address the environmental implications of space activities, existing regulatory authorities, such as the Montreal Protocol, do not cover rocket emissions or satellite impacts, leaving the responsibility with private space companies, prompting concerns about prioritizing environmental considerations over economic interests.
Launches of ESG Funds Plummet as Investors Pull Back
Launches of funds emphasizing environmental, social, or governance (ESG) factors significantly dropped in the second half of 2023, with only six new ESG funds compared to 55 in the first half and an annual average of almost 100 between 2020 and 2022.
Abrdn, a major asset manager, plans to remove the term "sustainable leaders" from two funds in February, following similar moves by Morgan Stanley and UBS that dropped ESG-oriented labels from some funds last year.
Increased scrutiny of sustainability claims by companies and asset managers, along with changing regulatory environments, has contributed to this decline in ESG fund launches.
ESG broad-market funds generally outperformed traditional counterparts in 2019, 2020, and 2021 but experienced a dip in performance in 2022 and 2023, influencing investor behavior and allocations.
Founded: 2019
Key People: CEO Yair Kuznitsov
Elevator Pitch: A cloud-based data management platform intended to create an information security compliance ecosystem.
Funding: The company raised $25 million of Series B venture funding in a deal led by Glilot Capital Partners on January 9, 2024.
Founded: 2017
Key People: CEO Rodrigo Diez
Elevator Pitch: A space ecosystem intended to bring to life the next space mission.
Funding: The company raised $5.34 million of seed funding from undisclosed investors on January 8, 2024.
Founded: 2023
Key People: CEO Jignesh Parikh
Elevator Pitch: high-capacity and performance lithium-ion and non-lithium-ion batteries.
Funding: The company is reportedly seeking Series A venture funding from undisclosed investors. Simultaneously, the company raised $1.2 million of seed funding in a deal led by NextGen Battery Chem Ventures on January 8, 2024.
Look for a new episode of Securing the Future Podcasts wherever you listen. In our most recent episode, we have Ben Colman, CEO of Reality Defender, sit down with General Partner Jeremy Hitchcock for an engaging conversation about AI, cybersecurity, and internet ethics.