08 Jun 2021
PALO ALTO, Calif. and YOKNEAM, Israel, May 25, 2021 /PRNewswire/
Ramon.Space, a world leader in space computing solutions, has raised $17.5M in Series A funding. The round includes StageOne Ventures, Deep Insight, WorldQuant Ventures, UMC Capital and existing investor Grove Ventures. The capital will be used to continue development of the company's computing solutions, support its rapidly expanding US and Israel operations, and expand the team globally.
Ramon.Space builds space resilient super-computing systems that revolutionize the way software is written, applied, and processed in space. The use of software in space has been limited because the hardware needed to support it could not function in such harsh conditions. Ramon.Space aims to transform the way software and hardware are used in space so applications can be developed, updated and adapted in real-time, creating infinite possibilities for new space satellite payloads and deep space missions. The company's computing and storage platform leverages ground-breaking Manycore ML/AI/DSP processing technology to power next generation earth observation, communications and data processing applications, bringing them to unprecedented levels of advancement.
Intelligent systems in space need advanced computing and storage capabilities. Computing systems on the market today are unable to withstand the high radiation levels and polarizing temperatures in space, causing them to deteriorate or malfunction. Ramon.Space uses virtual radiation-hardened technology that doesn't just withstand the harsh conditions of space, it thrives in it.
Aiming to revolutionize orbital services, Ramon.Space technology transforms satellites to smart and autonomous, drastically extending the effective lifetime of satellites by providing service agility in the form of in-orbit upgrades that adapt to services and applications.
"We're delighted to have such strong investors with us on this path to lead the digital transformation of space," says Avi Shabtai, Ramon.Space CEO. "With our ground-breaking technology, designed for earth-like computing at earth-like costs, we play a major role in the space revolution as the market leader in SW defined computing, networking and communication payloads."
"Since our first seed investment, Ramon.Space's growth has made monumental headway in the space ecosystem," said, Dov Moran, Ramon.Space's Chairman of the Board and Managing Partner at Grove Ventures. "Within our lifetime, we'll experience the impact and extraordinary benefits of human technological advances in space. Ramon.Space is at the forefront of these unique innovations."
"We are proud to lead Ramon's A round and be part of this exciting new space journey," said Yossi Vinitski, Partner at StageOne Ventures, who leads StageOne late-stage program. "We are confident in the Ramon.Space team, its technology and its ability to lead advanced computing in space in the years to come."
"Ramon.Space technology will play a disruptive and revolutionary role in solving some of the key challenges in this industry," said Barak Ben-Eliezer, Managing Partner at Deep Insight. "Their innovation has helped accelerate new space intelligent systems and data processing within a $350billion space industry expected to grow to more than $1 trillion."
"The space industry is in a transition phase due to the enablement of low-cost mass deployments, yet existing technology is decades behind earth-based solutions," said Kris Peng, President UMC Capital. "Ramon.Space's software defined smart computing systems will bring solutions into the current and future decades and we are proud to be part of this great journey ahead."
"We believe the computing segment is one of the most exciting sectors in the space economy," said Steven Lau, Managing Director at WorldQuant Ventures. "Ramon.Space's cutting-edge advancements within space machine learning and software will impact our lives in unimaginable ways."
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