This latest funding round places Sceye's pre-money valuation at $525 million. The capital will be directed toward research and development, flight programs, and launching commercial operations in 2025.
This marks another key step in Sceye's ongoing partnership strategy. In its previous Series B round, America Movil emerged as the largest investor, focusing on the Latin American market.
"The Series C round is a critical milestone for Sceye. These funds will accelerate our platform development and commercial roadmap, paving the way for the commercialization of our HAPS technology in 2025. Our partnership with Mawarid opens new territories and market opportunities for our innovative solutions," said Mikkel Vestergaard Frandsen, CEO and Founder of Sceye.
Ghassan Itani, Assistant Chairman of Mawarid, commented, "This partnership reinforces Mawarid's commitment to pioneering technology advancements and delivering digital solutions that serve critical industry sectors. By incorporating HAPS technology, we enhance our position as a comprehensive provider of strategic industry solutions."
This Series C investment follows the success of Sceye's 2024 flight program. The company demonstrated the ability of its High-Altitude Platform Systems (HAPS) to sustain perpetual flight, using solar power during the day and battery storage at night.
This breakthrough demonstrates HAPS' potential to revolutionize connectivity and disaster management infrastructure. The technology promises to expand access to remote areas, improve disaster response, monitor environmental changes, and provide real-time climate disaster detection.
Related Links
Sceye
Aerospace News at SpaceMart.com
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