What is Hiber?
Hiber, formerly known as Magnitude Space, is a Dutch 'NewSpace' venture founded by a team of satellite experts and tech entrepreneurs. The company is dedicated to a moonshot objective: the establishment and operation of a nano-satellite constellation. Hiber's core focus lies in the development of its proprietary, patent-pending technology, which powers its Hiberband service. Operating from offices in Amsterdam and Delft, the company achieved a significant milestone in November 2018 by becoming the Netherlands' first commercial satellite company to successfully launch two nano-satellites into orbit. This launch coincided with their recognition at the Amazon Web Services (AWS) Re:invent Conference, where they were named Commercial Startup Launch of 2018. Further validation of Hiber's economic potential came in September 2019 with the Dutch National Icon Award, which included government backing and a State Secretary as an ambassador.
How much funding has Hiber raised?
Hiber has raised a total of $30.5M across 1 funding round:
Other Financing Round
$30.5M
Other Financing Round (2021): $30.5M with participation from European Investment Fund
Key Investors in Hiber
European Investment Fund
The European Investment Fund (EIF) is dedicated to enhancing access to finance for European SMEs and infrastructure projects, supporting innovation and digitalization through various financial instruments.
What's next for Hiber?
The substantial enterprise-level funding and recent strategic investment position Hiber for accelerated growth and the scaling of its nano-satellite constellation. This capital infusion is expected to fuel further technological advancements, expand operational capabilities, and solidify Hiber's market presence in the burgeoning NewSpace industry. The company's focus on developing patent-pending technology for its Hiberband service, coupled with governmental recognition and support, suggests a strategic push towards commercialization and broader market penetration. Hiber's trajectory indicates a strong potential for future expansion and innovation in satellite communications.
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