Kleos Space: Secures A$5.5M to launch second group of satellites

Kleos Space: Secures A$5.5M to launch second group of satellites

• Kleos Space (KSS) has entered a A$5.5 million loan agreement with Dubai-based family office Winance
• Winance is a Dubai-based investment company who is providing funds for Kleos to execute its commercialisation plans
• The data-as-a-service company will use the funds to launch its second cluster of satellites
• The first satellites were dispatched to India last month and Kleos is waiting for revenue
• Additionally, Kleos will use the loan funds to repay short term debt and expand its global presence
• Kleos Space is down 12.7 per cent and shares are trading at 31 cents each