Kepler and Wyvern Lead the Charge in Canadian Space Tech with Recent Funding

It has been an eventful month for Canadian space tech, with notable advancements from companies like Wyvern, Kepler Communications, Mission Control, and Volta Space Technologies as they embark on new partnerships and funding rounds.

Wyvern, an Edmonton-based satellite imaging startup, has successfully raised $8.2 million CAD (approximately $6 million USD) in a strategic investment round led by Maryland-based venture firm Squadra Ventures. Other participants in this round included returning investors Uncork Capital and Y Combinator, along with new backers like the University of Alberta Innovation Fund, Accelerate Fund III, and Brent Perrot. This funding will primarily be used to penetrate the United States market and reflects the increasing demand for imaging solutions across various sectors, including forestry, agriculture, energy, defense, and environmental monitoring.

Founded in 2018, Wyvern has developed a proprietary compact hyperspectral satellite imaging camera that can detect wavelengths of light beyond human perception. This capability allows the company to identify different materials on Earth from space. Over the years, Wyvern has grown significantly from its original four founders—CEO Chris Robson, COO Kurtis Broda, verification and validation lead Callie Lissinna, and vice president of research and development Kristen Cote—to a workforce of 33 employees spread across Canada and the U.S. Prior to this round, Wyvern raised $9.45 million CAD (around $7 million USD) in a "seed-plus" round after completing Y Combinator’s Winter 2022 cohort. Earlier this year, the company also received funding from PrairiesCan and Emissions Reduction Alberta to demonstrate its technology in various applications such as agriculture, wildfire mitigation, and methane-leak detection.

Meanwhile, **Kepler Communications**, a Toronto-based company specializing in internet-for-space solutions, has secured a substantial $20 million investment from the federal government’s Strategic Innovation Fund. According to the Ministry of Innovation, Science and Industry, this funding will facilitate the development of Kepler’s Aether constellation, an advanced in-orbit, high-speed connectivity network. Last year, Kepler raised $122.7 million CAD (approximately $92 million USD) in Series C funding to launch additional high-speed space-to-Earth satellites.

The recent funding comes on the heels of Kepler establishing several partnerships with international space agencies. Earlier this month, Kepler and NASA formalized an agreement to exchange information and explore demonstration opportunities under NASA’s communications services project. This collaboration will enhance NASA’s understanding of Kepler’s space data-relay capabilities and foster cooperation in current and future on-orbit operations.

Additionally, the Canadian Space Agency (CSA) recently formed an agreement enabling multiple Canadian companies, including Kepler, to collaborate with the European Space Agency (ESA). As part of this initiative, Kepler has been appointed as the prime contractor for the ESA’s HydRON-DS mission, which aims to utilize laser communications to deliver high-performance internet in space for both government and commercial users. Other Canadian companies benefiting from this agreement include Sherbrooke-based SBQuantum, St. John’s, Newfoundland-based C-CORE, and ABB’s Analytical Business Unit located in Québec City.

This surge in activity among Canadian space tech firms highlights not only their potential for growth but also Canada’s strategic role in the evolving landscape of the global space industry. As these companies forge new partnerships and secure funding, they are poised to contribute significantly to advancements in space technology and connectivity, reinforcing Canada’s status as a key player in the field.