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.
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.
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.”
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.