[Funding alert] Dutch-based SPHERICAL Secures Funds in pre-seed Round
Nov 7, 2023 | By Startup Rise EU
SPHERICAL, a Dutch company, secures funds in a pre-seed round. The exact investment amount is yet unknown, but the company has raised €1 million in funding in addition to grants and subsidies.
Pre-seed funding for SPHERICAL was driven by unidentified business angels, Rabobank Innovation Loan, Graduate Entrepreneur Fund, and UNIIQ, a proof-of-concept fund based in the Netherlands.
Read also - UK-based Globacap Secures $21Million Series B Round Funding
According to SPHERICAL, the funds will be used to refine its chip designs and construct the first systems, which is an important step towards the company's prospective product launch.
RECOMMENDED FOR YOU
[Funding alert] Switzerland-based Swisspod Technologies Secures €7Million in Funding
Startup Rise EU
Apr 20, 2024
[Funding alert] Berlin-based Packmatic Secures €15 Million in Series A Round Funding
Startup Rise EU
Jan 24, 2024
Qblox funding news – Quantum startup Qblox Secures $26Million in Series A Round Funding
Startup Rise EU
Jun 20, 2024
Read also - Amsterdam-based Climate Tech Startup Overstory Secures $14M Series A Round Funding
Dedicated to creating semiconductors for satellite electronic subsystems, SPHERICAL was founded in 2022 with the objective of delivering better, faster, and more effective systems. The European Space Agency BIC Noordwijk served as the company's incubator.
SPHERICAL says, “Space systems are being held back by a 50-year-old electronic design paradigm. At SPHERICAL, we do things differently – design the system at the semiconductor level, We deliver systems that are smaller, more reliable and highly software configurable. Enabling our customers to keep pushing the limits of space technology.”
Thomas Parry, CEO and founder of Spherical Systems said, “The financing announced today allows us to fully fund the initial journey of our product development and team growth. This allows us to demonstrate Spherical’s technical and commercial relevance on the world stagem, We are grateful for the support of UNIIQ and other investors as we build our pioneering approach in the industry. We look forward to building on the strengths of the South Holland region to expand strategic opportunities within the space and semiconductor industries over the next decade.”
Jasper Geselschap, fund manager of UNIIQ adds, “The in-depth skills of founders Thomas Parry and Bastiaan Bom in combination with the strong mutual synergy create a rock-solid team to take SPHERICAL to the next phase.”
About SPHERICAL
SPHERICAL creates customised semiconductors and employs them in satellite electronic subsystems. We can create more dependable, software-controllable, and high-performing systems by creating semiconductors more quickly and effectively than our rivals.
Read also - Latvia-based SpirulinaNord Secures €600K in Funding
Recommended Stories for You
[Funding alert] Barcelona-based Apartool Secures €5.5 million in Series A Round Funding
Startup Rise EU Oct 18, 2023
[Funding alert] Leiden-based Vico Therapeutics Secures $60M in Series B Round Funding
Startup Rise EU Jan 6, 2024
[Funding alert] London-based Marleybones Secures €1.05 Million in Seed Funding
Startup Rise EU Apr 9, 2024
Bluedot funding news – London-based Bluedot Secures €560K in Angel Investment
Startup Rise EU Jun 10, 2024
[Funding alert] Berlin-based finmid Secures €35 Million in Equity Funding
Startup Rise EU Apr 17, 2024
[Funding alert] Paris-based The Essence App Raises over $600K in Funding
Startup Rise EU Feb 9, 2024