Turkish Satellite Firm Eyes $400 Million Valuation in Funding Debut
- Plan-S to raise up to $40 million in first investment round
- Money to help fund development, expansion of satellite fleet
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Plan-S, the satellite and space technology unit of Turkey’s Kontrolmatik Enerji Ve Muhendislik AS, is launching an equity funding round that would value the company at $400 million.
The single-asset fund, offered by the investment arm of state-run Ziraat Bank, aims to raise as much as $40 million from institutional and individual investors in Turkey and abroad for Ankara-based Plan-S, Kontrolmatik Chairman Sami Aslanhan told Bloomberg in Istanbul on Monday.