The investment in 'Dauria Aerospace', a company which develops low-budget, small orbital devices, was announced on October 7 by the international investment company I2BF Global Ventures. The private investment is going to be put towards current projects, the fulfilment of contracts, the development of technologies, and new satellite platforms, the investment company explained in a statement.
The press-release quotes Ilya Golubovich, a founding partner of I2BF Global Ventures, as saying: "I2BF sees a growing need for effective monitoring and project management in the field of useful minerals, agricultural sector, forestry and the environment, using innovative aerospace solutions. This investment in Dauria Aerospace represents an opportunity to be part of this dynamic niche in the market." The aerospace sector is becoming increasingly attractive to young entrepreneurs, engineers and scientists, who are able to develop new companies based on the start made during the implementation of major aerospace programs.
Small aerospace device DX-1. Photo provided by Dauria Aerospace
"We consider that the funding provided by I2BF for Dauria Aerospace is a significant event in the innovation landscape, in the field of aerospace activity. Both companies are well known to us, and we work closely with both of them," Dmitry Paison, Director for Development at the cluster 'Aerospace technologies and telecommunications' of the Skolkovo Foundation. "I2BF is an accredited investor, whilst Dauria Aerospace is one of our partners, and intends to build its own R&D centre at the Skolkovo innovation centre. Moreover, the company's affiliate Dauria Satellite Technologies is a participant in the aerospace cluster. The 20 mln dollars invested in Dauria is roughly double the value of the contract signed last year between this group of companies and Roscosmos, for the creation of some CubeSat micro-satellites. Dauria is thus diversifying the sources of funding for its programs and demonstrating that state funding for the first stage of a project in the field of aerospace can ultimately lead to private investment in the project’s latter stages."
Eduard Kanalosh, Chief Investment Officer of the Skolkovo Foundation, pointed out that this was the biggest single verified investment in the shareholder capital of a participating company, made in cash, in the Foundation's history. "It is very pleasing to see private investment going into the aerospace sector, which has traditionally been seen as an area of public activity," Mr. Kanalosh said.
From the technical point of view, as Dmitry Paison said, the 'Dauria' group has been implementing projects related to the setting up of the DX-1 aerospace device, and subsequently – satellite equipment for observation of Earth using the aerospace platform developed. The company is making use of both Western techniques of creating micro-satellite equipment, employed by companies such as SSTL, and methods developed by Russian experts from leading companies in the rocket and aerospace sector. Mr. Paison concluded by saying: "We think that the Dauria projects have a bright future ahead of them, all the more so as the group is not only actively involved in carrying out its own projects, but is also working to set up new chains of cooperation and bring in new approaches to the planning and management of commercial aerospace projects. We therefore wish Mikhail Kokorich, Sergey Ivanov, Wei Sun and their colleagues success in implementing the deal that has been announced, and every success in the future as they look to set up a successful Russian satellite manufacturing company that is integrated into the global production chain."