Hertfordshire-based space electronics company, Spacechips, is set to bring its own, self-invented satellite communications products to market in 2021 after securing a business loan from HSBC UK.
The funding has allowed Spacechips, founded in 2015, to prepare for the launch of novel, satellite communication transponders and on-board computers for telecommunication, Earth-observation, space-based internet, navigation and IoT spacecraft.
To prepare for the launch of such highly complex designs, Spacechips will undertake a series of testing to ensure its inventions are market ready. The company used HSBC UK’s funding to support the purchase of electronic testing equipment to de-risk and fine tune the new transponders and on-board computers, including a Spectrum Analyser, Vector Network Analyser, Oscilloscope and a Signal Generator.
Dr. Rajan Bedi, CEO at Spacechips, said: “The loan from HSBC UK has enabled us to purchase vital equipment to test our new satellite communication products before we take them to market. Our award-winning inventions will contribute to a variety of worldwide causes, from monitoring climate change and global warming, food sustainability, disaster management, space-based internet, to identifying Covid-19 hotspots. Thanks to the support from our Relationship Manager at HSBC UK, Salem Appleton, we can continue to provide ground-breaking technology to the global space industry.”
Gareth Anderson, HSBC UK Area Director for Thames Valley and Hertfordshire, added: “Despite the challenging market conditions, Spacechips is continuing to develop the latest in space electronics technology. We are pleased to be able to support this young British start-up as it continues to disrupt the global space electronics industry.”
Spacechips’ innovative product designs will be used to provide satellite-based solutions to contribute to a variety of worldwide causes, including digital divide, food sustainability, Earth-observation, disaster management, telemedicine and space-based internet.
Spacechips has won multiple industry awards including Start-Up Company of the Year 2017 and High-Reliability Product of 2016, 2017 & 2018 at the Elektra Awards. It has also recently been nominated by the British Engineering Excellence Awards for Small Company of the Year and Consultancy Company of the Year. Dr. Bedi also won Great British Disruptive Entrepreneur of 2020.