Following a $45 million fundraising round, NorthStar is expanding to Luxembourg

After receiving funding from Luxembourg’s government-backed venture capital fund, Canadian business NorthStar Earth & Space aims to establish a European headquarters in the country. The LFF (Luxembourg Future Fund) announced on December 17 that it will participate in a $45 million funding round for Montreal-centered¬†NorthStar, which is constructing a constellation of the¬†commercial imaging satellites to track what’s going on in space and below.

Telesystem Space Inc, which is a family-possessed technology fund centered in Canada which has formerly invested in NorthStar, is co-investing in the deal with LFT. Following the investment, NorthStar plans to establish a “center of excellence” in Luxembourg for the Space Situational Awareness (SSA), Space Traffic Management and Space Domain Awareness.

As per NorthStar, which is creating a 52-satellite constellation divided between 40 spacecraft for Earth monitoring activities and 12 Skylark SSA satellites, in the nation will concentrate on space-centered object monitoring and tracking services. The business is first focusing on the SSA market, and Thales Alenia Space, a French-Italian company, is developing the first 3 Skylark satellites, which are scheduled to launch in the very first quarter of the year 2023.

NorthStar stated on August 24 that the Canadian government had conditionally authorized the constellation, putting the company on pace for a formal license before the first satellites are launched. As part of its ambition to promote and diversify Luxembourg’s economy, LFF has invested in other space enterprises, including Finnish imagery provider Iceye and U.S.-centered data analytics company Spire Global.

“Luxembourg has a long-celebrated record for developing pioneering partnerships with the private space firms that generate technological improvements and innovation for sustainability practices both in space and on Earth,” said Franz Fayot, Luxembourg’s Minister of the Economy, in a statement. Luxembourg’s space capabilities will continue to grow and develop thanks to the investment in NorthStar.”

Spire announced plans to build European headquarters in Luxembourg in November 2017, following LFF’s participation in a $70 million fundraising round. Spire Worldwide was situated in San Francisco at the time, but after becoming a public business this summer through a merger with a SPAC (special purpose acquisition company), it relocated its global headquarters to Vienna, Virginia. The American headquarters of NorthStar are in the Washington, D.C. metropolitan region.

“Luxembourg has a longstanding record for pioneering relationships with private space businesses that create technological breakthroughs and innovation for sustainable operations both in space and on Earth,” said Luxembourg’s Economy Minister Franz Vaiot in a statement. Investing in NorthStar ensures that the company’s growth and capacity are maintained. Luxembourg has a satellite channel.

Spire announced plans to build European headquarters in Luxembourg in November 2017, following LFF’s participation in a $70 million fundraising round. Spire Worldwide was based in San Francisco at the time, but after coming public this summer via a merger with a SPAC, it relocated its global headquarters to Vienna, Virginia.

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