Seraphim Space Portfolio Builds Pace as Space Funding Environment Improves

Seraphim Space Investment Trust (LSE:SSIT) reported accelerating momentum across its portfolio in its January 2026 update, with a number of investee companies landing significant commercial and defence-related wins, fresh funding rounds, and key technical breakthroughs. Portfolio businesses including ICEYE, LeoLabs, D-Orbit, Voyager Technologies, Xona, Tomorrow.io, Pixxel and Astroscale continue to advance capabilities spanning SAR imaging, space domain awareness, in-orbit manufacturing and servicing, and commercial Earth observation.

The update also points to a broader recovery in the global space investment cycle. Seraphim’s Space Index recorded a record level of funding activity during 2025, alongside landmark industry developments such as the proposed $1.25tn SpaceX–xAI merger. Against this backdrop, SSIT has been increasing its own market profile through expanded media engagement, industry events, and enhanced investor-facing content via platforms such as Curation Connect, reinforcing its role as a core participant in the rapidly scaling space economy.

Despite the operational progress, the trust’s outlook continues to be constrained by weak earnings quality and limited cash generation, even as it maintains a notably conservative balance sheet. From a technical perspective, the share price trend remains strong but appears stretched. Valuation metrics also look demanding, with a high earnings multiple and no stated dividend, though these concerns are partly balanced by a steady stream of positive portfolio news led by major defence-related contract awards.

More about Seraphim Space Investment Trust Plc

Seraphim Space Investment Trust Plc is a London-listed investment company dedicated to the SpaceTech sector. It focuses on early- and growth-stage businesses developing satellite constellations, in-orbit services, Earth observation capabilities, and space-based data and infrastructure, targeting applications across defence, climate monitoring, connectivity, and emerging space-enabled digital services worldwide.