Secures $695.5 Million Facility to Fund Next-Generation UAE Satellites - Space 42
Summary
Space42 secured a $695.5 million ECA-backed financing facility to develop its next-generation Al Yah 4 and Al Yah 5 satellites. The company says the satellites will expand secure sovereign communications capabilities across the Middle East, Africa, Europe, and Asia. The funding supports launches planned for 2027 and 2028 and aligns with a 17-year government contract starting in 2026. Space42 also highlights its software-defined, reconfigurable payloads as part of its multi-orbit connectivity strategy.
Funding
Amount
$695.5M
Total raised
Date
July 23, 2025
Announcement date
Investors
Banco Santander, Credit Agricole
Lead investors
Company
https://www.space42.ai
Funded company
Classifications
industries
No industries detected
applications
AI & Machine learning
AskAI Classifications
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