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Closing Bell

Manifest Space: CesiumAstro’s $65 Million Series B Funding 8/8/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 8 August 2024

⏱️ 23 minutes

🧾️ Download transcript

Summary

CesiumAstro has cornered the market on an uncommon, but soon-to-be crucial part of the telecommunications market: phased array communications. The startup recently closed a Series B+ funding round with investors spanning across the Development Bank of Japan, L3Harris Technologies and Airbus Ventures. Founder & CEO Shey Sabripour joins Morgan Brennan to discus.

Transcript

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0:00.0

Seizia Mastro is cornering a little-known part of the telecommunications market, but one that could

0:07.5

become crucial to a variety of industries from broadband internet to drones in war fighting to

0:12.2

air travel and autonomous driving.

0:15.0

Phased array communications.

0:17.0

It allows you dynamically to put the signal where the demand is and then remove it and put it somewhere else where the demand is less.

0:28.0

And it's really a dynamic way of managing a spectrum and power and how you use it and it's critical

0:34.8

for the next generation telecommunication and that's about to come.

0:39.8

Cseum Astro recently closed a Series B plus round of funding, adding an additional $65 million to its

0:45.7

cash pile.

0:47.5

Investors in the company include Truesdale Ventures, Development Bank of Japan, L3 Harris Technologies, Jaguar Land Rover, and Airbus Ventures.

0:55.0

Founder and CEO Shay Sapropore says he's always taken a disciplined approach to growing the startup,

1:01.0

and that's starting to pay off.

1:03.0

We have actually earned more contracts than we have spent VC money,

1:09.0

which is kind of unusual, so many companies have to spend hundreds of millions of dollars in venture money and capital investment

1:19.6

before the first revenue comes through the door.

1:22.4

We've spent, we've raised 160 million. We've spent half of it in

1:26.7

almost eight years. We have half of it in the bank and with that 80 million we have already

1:31.5

generated well over 120 million dollars of

1:34.4

gap realizable bookings and revenue. On this episode what it takes to give a

1:39.6

niche century old technology a mass market makeover and how Seizum Astro is betting the future will rely on it.

1:47.0

I'm Morgan Brennan and this is Manifest Space.

1:50.0

The latest is that we finished our series B-plus. I call it series B-plus because it was part of our series

...

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