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Look Up Secures €50 Million to Enhance Space Situational Awareness
WASHINGTON — Look Up, a French space situational awareness company, has garnered nearly 50 million euros ($57.6 million) to advance the creation of a radar network designed to monitor space objects. This significant investment will fuel the deployment of advanced radar technology for comprehensive space surveillance, ensuring the safety and sustainability of assets in orbit.
Funding Details
The company, formerly named Look Up Space, announced on June 11 that it had secured the funds through a mix of equity investments, loans, and a European Union subsidy.
- The Series A funding round was spearheaded by ETF Partners, based in London, which contributed 24 million euros.
- Several existing and new investors participated, including the European Union’s EIC Fund.
- Look Up received 15 million euros from the EU as non-dilutive funding.
- An undisclosed amount of debt was secured from various banking institutions.
Radar Network Development
Established in 2022 by former French military and space agency executives, the company is constructing a global network of radars for tracking space objects. Currently, Look Up operates a radar in France, and the fresh funding will enable the deployment of two additional radars in French Polynesia.
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Executive Insights
“This 50 million euros in funding will allow Look Up to expedite the development of its radar network, broaden its services, and expand internationally, making a pivotal contribution to the security of commercial and governmental space assets,” stated Michel Friedling, co-founder and chief executive of Look Up, in a statement to SpaceNews. Friedling is a retired French Air and Space Forces general and the former head of French Space Command.
“As a former French space commander, I understand precisely what governments and MoDs [ministries of defense] require to achieve space domain awareness,” he said. “I established Look Up to furnish them with the capabilities I envisioned in my previous role, notably for intelligent and automated space C2.”
Space Operations Service
In addition to tracking objects, Look Up is developing a space operations service supported by the EU program, Acceleration Towards LEO Automatic Space Safety (ATLAS2). This service will be integrated with its space surveillance network.
“This comprehensive approach allows us to satisfy the growing demand for coordinated space traffic management from both public and private entities, ensuring the long-term viability of space activities,” commented Juan Carlos Dolado, co-founder and chief technology officer of Look Up Space, and former head of space surveillance at CNES, in a statement.
Expansion Plans
Look Up currently employs over 60 individuals, and the secured funding will facilitate an increase to 100 employees by year-end. It will also bolster international expansion efforts.