EnSilica Lands £10m Boost from UK Space Agency
Deal News | Feb 03, 2025 | UK Tech Funding
EnSilica, an Oxfordshire-based semiconductor company, has been granted £10 million by the UK Space Agency to develop chips compatible with OneWeb for the satellite market. This comes at a crucial time as EnSilica had recently cautioned about its financial stability without additional funding. The investment is part of a broader £16 million government initiative aiming to enhance the UK's satellite industry. EnSilica's shares saw a 10% surge following the announcement. Furthermore, Welsh firm Excelerate Technology will receive £6 million to work on mobile and autonomous systems in the satellite sector. The UK government seeks to advance the country’s position in the global satellite communications industry, a market projected to hit $1.8 trillion by 2035. The funding announcement precedes the Ignite Space Conference at the National Space Centre in Leicester.
Sectors
- Semiconductors
- Satellite Communications
- Government and Public Sector
Geography
- United Kingdom – EnSilica and Excelerate Technology are UK-based companies receiving funding from the UK Space Agency, illustrating the geographical focus of the initiative.
Industry
- Semiconductors – EnSilica specializes in semiconductor technology, which involves designing and developing chips crucial for satellite communication systems.
- Satellite Communications – The funding by the UK Space Agency is specifically aimed at advancing satellite communication technology, including chip development for constellations like OneWeb.
- Government and Public Sector – The UK Space Agency, a government body, is funding this initiative to foster technological advancements and economic growth.
Financials
- £10 million – The amount received by EnSilica from the UK Space Agency for developing OneWeb-compatible chips.
- £16 million – Total funding announced by the UK Space Agency for satellite communication projects.
- £6 million – The amount allocated to Excelerate Technology for developing satellite communication systems.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EnSilica | Target Company | Company | A semiconductor company based in Oxfordshire, UK, that will develop chips compatible with OneWeb. |
| UK Space Agency | Government | Government | The government entity providing the funding to support advancements in the UK satellite industry. |
| Excelerate Technology | Other Company | Company | A Welsh satellite company receiving £6 million to develop user terminal systems. |
| Sir Chris Bryant | Telecoms Minister | Person | A UK government minister involved in the announcement of the funding initiative. |