In 2014, Dundee firm Bright Ascension played an instrumental role in the UKube-1 mission, Scotland’s first ever satellite launch.
Now the business, which is behind software for space satellite launches, has plans to diversify its work and grow its team.
Dr Peter Mendham founded Bright Ascension in 2011 to create software for satellite development, mission control and operations.
He was joined in his mission a year later by technical director Dr Mark McCrum.
They now want to create about 15 new jobs, including in Dundee.
In 2017, the company – one of a handful of space technology related firms in Dundee – switched to an employee-owned structure.
Now with a staff of about 30 and over 25 satellites launched, Mr Mendham plans further growth in the next 12 months.
Seven-figure investments
That comes as the firm’s major backer, Capital for Colleagues (C4C) converted its share investment into ordinary shares valued at £1.75m.
This was alongside a £1m development funding awarded to Bright Ascension by the European Space Agency.
Mr Mendham said: “We’ve been gradually expanding our scope and supporting more customers over the world.
“We spotted an opportunity to make a step-change in the range of software products we are offering.
“That’s part of the bigger picture of ‘you’ve got some satellites, but how do you use them to do something useful?’
“We’ve seen some of our customers struggle with that.
“We’ve spotted an opportunity to create a new suite of products to help them lower risks and costs, potentially saving hundreds of thousands of pounds.”
Bright Ascension to create Dundee jobs
Mr Mendham hopes to take on an additional 15 jobs across its bases in Dundee, Edinburgh and Bristol.
“About two fifths of those jobs will be based in Dundee,” the company founder said.
“We work with companies across the world, but we’re very much a Scottish company and Dundee is HQ.”
Mr Mendham said Bright Ascension is looking forward to the next three to five years, but believes the company could grow quickly thereafter.
Its growth trajectory may depend on the extent to which it diversifies.
He said: “If we stick to our core range of products that we’re building at the moment, we’d grow gradually to about 50 or 55 staff.
“One of the things these products will do is unlock other opportunities to diversify into other areas of space software.
“Then potentially into non-space applications.
“Those would give opportunities to grow the business quite a lot more.”
Dundee firm in a ‘world-leading’ position
The company founder also praised C4C – which specialises in helping employee-owned firms – for their ongoing support.
C4C first got behind the firm when Bright Ascension was valued at just over £1m.
That valuation has increased tenfold since.
Mr Mendham said: “They have been our main investor for a while.
“Employee ownership has been really important in building a company where everyone is involved in the running of the business. It also helps us attract really good talent.
🤩Beautiful images from the first Mauritian NanoSatellite #MIRSAT1 with our FSDK #flightsoftware on board! https://t.co/SX9Auvcqcp
— Bright Ascension (@BrightAscension) October 25, 2021
“The support of C4C has been really important in providing expertise in the growth management of the business.”