Ramon.Space Raises $26M to Fuel the New Era of Space Computing Infrastructure
The funding from strategic investors and leading VCs will accelerate Ramon.Space’s expansion in the market with its computing platform, enabling data-driven applications & services in space
LOS ALTOS, CA, June 28, 2023 (GLOBE NEWSWIRE) — Ramon.Space, a leader in space-resilient computing infrastructure, announced today that it has raised $26M in funding from Ingrasys, a subsidiary of Foxconn Technology Group and the world’s largest manufacturer of server and storage platforms, and the Strategic Development Fund (SDF), an Abu Dhabi-based strategic investment firm, with additional participation from existing investors, Grove Ventures, Deep Insight and UMC Capital. The investment from Ingrasys follows the recently announced strategic agreement to manufacture Ramon.Space’s computing products globally. The newly secured funding will enable Ramon.Space to grow the organization and continue to commercialize its space-resilient computing platform, reach new markets, and solidify its global presence in response to the surge in demand for advanced computing solutions in space.
Ramon.Space has developed and deployed its SW-based computing technology to store, process and analyze large amounts of data in orbit. By equipping satellites with powerful computers that have advanced storage, computing, and connectivity capabilities, Ramon.Space solutions enable data-driven applications and services in space, unlocking new business opportunities and driving growth in the space economy. The company leverages its in-house radiation-hardened technology to support reliable, future-proof missions. The Ramon.Space computing platform includes a set of products targeting storage, processing, and communication solutions, namely NuStream, NuPod and NuBox.
“Space-grade computing solutions have become an essential foundation for the evolution of the space economy. The demand from satellite manufacturers, operators and service providers for such solutions is growing, driven by new business models and a goal to maintain agility of services in orbit. This new investment will allow Ramon.Space to scale its organization to meet market needs,” said Avi Shabtai, CEO of Ramon.Space. “We are honored to receive a vote of confidence from global leaders as we continue to increase our reach of enabling data-driven insights from space.”
“As the world leader in cloud and enterprise computing manufacturing on the Earth, it’s a natural step to expand into computing infrastructure in space and we are truly excited to be part of the space industry,” said Benjamin Ting, CEO, Ingrasys. “Space computing is the foundation to leverage the infinite potential of space and we recognized that investing and partnering to manufacture Ramon.Space products was the perfect strategic move as they are the leader in this field.”
“The trends and forecasts within the industry clearly indicate that advanced computing infrastructure is crucial for the future of space,” stated Mohamed Musabah Al Mazrouei, Director of Investments and Portfolio Management at SDF. “Our decision to invest in Ramon.Space is in perfect alignment with our strategic mandate, which emphasizes a focus on the space sector through Private Equity and Venture Capital. This venture capital investment not only enhances our portfolio, but also opens up potential avenues to seek synergies and foster partnerships, both within the UAE and globally.”
Ramon.Space’s computing solutions have generated rapid growth and earned the interest of customers in both the commercial and defense sectors. The company’s technology enables a wide range of applications in different space sectors – from satellite communications and remote sensing to autonomous robotics spacecraft and space exploration.
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About Ramon.Space
Ramon.Space is a leader in space-resilient computing infrastructure. Powered by its unique AI/ML processors, Ramon.Space’s software-empowered systems enable the realization of Earth-like computing capabilities in space. The company’s proven technology has already been deployed in space and used in over 50 deep space and satellite missions across the solar system – with zero failures. Ramon.Space has offices in the United States and Israel.
Media Contact
Ami Lifshitz
press@ramon.space
