SpaceIn secures funding for SpaceANT-1 mission

Malaysian space technology startup SpaceIn has secured an investment from 1337 Ventures, a move that is set to accelerate the country’s ambitions of developing fully locally-made satellites. This strategic funding aims to reduce Malaysia’s reliance on foreign technology while positioning the nation as a competitive player in the global space economy.

With this investment, SpaceIn plans to fast-track its growth in 2025, focusing on advancing its sensor modem and ground segment for the SpaceANT system, which is being developed in partnership with the ITIC project. Additionally, the company will test its payload in operational orbit in collaboration with a host satellite scheduled for launch in Q4 2025.

Strengthening Regional Presence

In a bid to expand its footprint, SpaceIn is set to enter the Brunei market, bringing its satellite IoT solutions to enhance digital transformation across Southeast Asia. The expansion aligns with the startup’s vision of providing cost-effective, locally developed satellite technology to regional markets.

1337 Ventures’ CEO and Founding Partner Bikesh Lakhmichand expressed confidence in SpaceIn’s vision, stating, “SpaceIn exemplifies the kind of groundbreaking innovation we aim to support. Their commitment to developing fully Malaysian-made satellites and advancing the aerospace industry aligns with our vision of empowering startups that can transform industries and elevate Malaysia’s position on the global stage. We are proud to be part of their journey.”

Pioneering Satellite Technology

Under the leadership of Dr. Norilmi Amilia Ismail, SpaceIn has already achieved a significant milestone with the 2023 launch of Malaysia’s first pico satellite, SpaceANT-D, in collaboration with Universiti Sains Malaysia (USM). Building on this success, the company is preparing to launch SpaceANT-1, a satellite designed to assist with forest management by collecting real-time environmental data and transmitting it to cloud storage for accessibility.

“Our partnership with 1337 Ventures strengthens our ability to innovate and expand. This investment enables us to advance our technology, test new capabilities in orbit, and explore new markets like Brunei. It’s a significant step forward in our mission to deliver Malaysian-made satellite solutions and inspire the next generation in aerospace and STEM,” Dr. Norilmi expressed optimism about the company’s future.

Nurturing Startup Ecosystem

1337 Ventures’ investment in SpaceIn is made through its 1337 Accelerator Fund I, which is co-funded by seasoned angel investors Asgari Stephens and Suresh Thiru. The fund was created to address the lack of early-stage funding in Malaysia, particularly for startups with high innovation potential across diverse industries.

As the General Partner (GP) managing the fund, 1337 Ventures not only provides financial support but also mentors startups and assists them in securing additional funding to scale their operations.

The partnership between SpaceIn and 1337 Ventures signals a major push for Malaysia’s aerospace ambitions, reinforcing the country’s capabilities in satellite development and space technology. With a growing interest in homegrown innovations, Malaysia is taking decisive steps toward establishing itself as a key player in the global space industry.