TLDR:
- Mandala Space Ventures announced nine UK-based startups participating in its accelerator program
- The program aims to connect early-stage UK space ventures with mentors from JPL and potential investors
Nine UK-based startups have been selected to participate in the SoCal-UK Space Accelerator, a program funded by the UK Space Agency and organized by Mandala Space Ventures. The eight-week virtual course will culminate with an in-person investor pitch day at Caltech in Pasadena, California. The program aims to create a transatlantic portal for innovative ideas from the UK and help prepare them for venture capital and access to the US market. The selected cohort includes companies like Agtelligence, Angoka, Lodestar, Lumi, Second Star, Space Solar, Saif Systems, Global Atmosphere Processing, and Frontier Space Tech.
As part of the accelerator program, participants will have the opportunity to network with potential investors and mentors from JPL. Mandala is also looking to raise a $50 million fund for possible investment in the startups. This initiative is one of four accelerators announced by the UK Space Agency earlier this year with funding of up to 500,000 British pounds. Mandala has previously completed a similar accelerator program for the Canadian Space Agency and is actively reaching out to investors for its second investment fund. The first fund, raised three years ago, was invested across 10 companies including rocket motor manufacturer Adranos and Lynk Global.
