Backing South African excellence in space technology

At Futuregrowth, we are committed to investing in highly innovative companies in fast-growing sectors that drive meaningful developmental impact. One of the latest companies in our High Growth Development Equity Fund (HGDEF) is CubeSpace, a global leader in satellite Attitude Determination and Control System (ADCS) solutions for small satellites. The Stellenbosch-based company has established itself as a dominant player in the SmallSat market.    

The start-up, which has a decade of flight heritage, is a spin-out company of Stellenbosch University. It specialises in ADCS solutions for more than 250 global clients. ADCS technology plays a crucial role in the space value chain by helping satellites maintain precise orientation in orbit. Its customers include major space agencies like NASA and ESA.

We are proud to have led a $3 million (R55.27m) funding round in CubeSpace, which is a shining example of South African excellence in space technology. This investment showcases what we have always known: South Africa continues to be a powerhouse of technological innovation and engineering talent. CubeSpace joins our country's impressive legacy of breakthrough technologies, from Square Kilometre Array (SKA) telescopes to world class satellite technology. 

While others may overlook South Africa's potential, we recognise our nation's deep engineering expertise in the likes of CubeSpace co-founder and CEO Mike-Alec Kearney, world class universities, and thriving tech ecosystem. CubeSpace exemplifies how South African companies are competing and winning on the global stage in one of the most demanding sectors: space technology. 
 
This investment isn't just about funding. It's about backing South African excellence and showing the world what our nation's innovators can achieve. CubeSpace is just one example of the next wave of South African companies poised to shape the global space industry. 

The capital deployment, made via Futuregrowth’s HGDEF, will support CubeSpace’s growth strategy of extending its flight-proven solutions beyond nanosatellites to include spacecraft in the 50 – 1 000 kg class.   

CubeSpace exemplifies HGDEF’s mission by leveraging expertise in hardware, software, and systems integration. Such advancements in space technology offer lasting benefits for humanity. For instance, numerous satellite applications, like Earth observation for climate tracking and disaster management, are essential for reaching global sustainability objectives. 

In the rapidly evolving space industry, which is characterised by heightened competition and lead times, CubeSpace holds a competitive edge. Its affordable, reliable and user-friendly solutions speed up time-to-orbit and streamline production, which are essential for satellite programmes looking for high-quality and rapid deployment.   

This investment is a perfect fit with Futuregrowth's overarching strategic goals. CubeSpace, with its capable leadership team that is passionate and adept at driving innovation in the satellite technology space, fits well within our scope of supporting intellectual property-rich businesses in growing sectors like the SmallSat market. The deal reflects our commitment to supporting innovative South African businesses that are making a positive societal impact through job creation, contributing to global sustainability goals and enhancing the country’s competitiveness internationally. 

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