Polish space tech company Sybilla Technologies secures funds to enter U.S. market
WARSAW, Poland - The Polish state-owned bank BGK and European venture capital firm 3TS Capital Partners have unveiled an investment of around 35 million zloty ($10 million) in Poland's space tech company Sybilla Technologies.
The business, which already counts the European Space Agency and the federal space agencies of France, Italy and Poland among its customers, aims to use the funds to enter the US' market, among others.
Based in Bydgoszcz, in Poland's western part, Sybilla Technologies designs, builds and operates robotic optical observatories used to monitor objects in space. Sybilla Technologies runs a network of optical sensors, supplying data to various clients. According to a BGK press release, Sybilla operates a network of 50 optical sensors distributed across six continents. The company is reportedly on a three-year track to expand its global footprint.
Sybilla plans to double its fleet to some 100 optical sensors by the end of this year, according to BGK. This would enable the company to continuously monitor the movement of 90% of the more than 40,000 objects that are currently in orbit with a quick turnaround.
Among others, Sybilla Technologies is supplying its services to the PIAST satellite constellation, under development for the Polish Ministry of National Defense.
Sybilla CEO and co-founder Piotr Sybilski said in a release that Sybilla will use the funds to expand its sensor network and analytical services, and support the firm's "plan to enter the U.S., Middle East, and Asian markets, as well as strengthen our position and expand our collaboration with partners in the UK, Germany, Italy, and France."
"The next step will be to launch our sensors into orbit," he added.
Sybilski said that the company also aims to use its investors' funds to further commercialize its services, reinforce its position in the defence sector, and multiply the scale of the business.
"Our systems and analytical services are already trusted by national space agencies, the European Space Agency, and defence-sector organisations across Europe. But the work ahead is what drives us," Sybilski said in a social media post. "Orbital activity is accelerating at an unprecedented pace. As space becomes more congested and contested, independent access to reliable space situational awareness is no longer a technical nice-to-have. It is a strategic imperative for security, sovereignty, and commercial operations alike. Europe needs sovereign capabilities in this domain. We intend to build them."
Further along, Sybilla Technologies aims to expand its network to some 300 devices deployed across approximately 100 locations across the world.
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