Luxembourg: EIB Announces First Direct financing for a start-up in the European “New Space” sector - €20 million venture loan for Spire Global ...Middle East

european union - Economy
source : european union ( Middle East ) () 8
Today at Web Summit 2020, the EIB and Spire Global, a company with the world’s largest multi-purpose constellation of satellites announced a venture debt financing agreement of up to €20 million. The financing will back capital expenditure and research and development (R&D) activities to further develop Spire’s constellation of small satellites and high-quality maritime, aviation and weather space data and analytics. It will also back the development of new software applications for customers and create high-skilled jobs in Luxembourg. The transaction follows the EIB’s commitment to strengthen support for European space start-ups and cooperate with space agencies such as the European Space A

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