🏆 Deal of the Week · CW 23/2024
Aalto HAPS raised USD 100 million in a venture round of undisclosed series in 2024, with valuation terms remaining undisclosed. The round was backed by a consortium of Japanese strategic and financial investors, reflecting strong demand for high-altitude platform connectivity in the Asia-Pacific market.
Aalto HAPS — key deal facts
| Company | Aalto HAPS |
| Founded | 2022 |
| Headquarters | Farnborough, United Kingdom |
| Amount raised | USD 100M |
| Valuation | Valuation Remains Undisclosed |
| Round | Venture – Series Unknown |
| Investors | Space Compass Corporation, NTT DoCoMo, Mizuho Bank, Development Bank of Japan |
| Sectors | Satellite Communication |
Who invested in Aalto HAPS?
The round was funded by Space Compass Corporation, NTT DoCoMo, Mizuho Bank, and the Development Bank of Japan. The investor mix is notable for combining a major Japanese mobile operator, a dedicated space infrastructure joint venture, and two leading Japanese financial institutions — signalling both commercial and policy-level conviction in HAPS connectivity deployment in Japan.
What does Aalto HAPS do?
Aalto HAPS, formerly known as Airbus HAPS Connectivity Solutions, was founded in 2022 as a subsidiary of Airbus Defence and Space and is headquartered in Farnborough, United Kingdom. The company designs, manufactures, and operates the Zephyr High Altitude Platform Station, a solar-powered, emissionless aircraft that operates in the stratosphere as a persistent 'tower in the sky'. Zephyr platforms deliver mobile connectivity, earth observation, surveillance, disaster management, and precision agriculture services to civil government, defense, and commercial customers. Aalto HAPS is targeting the launch of commercial HAPS services in Japan from 2026.
Aalto HAPS valuation & multiples
No existing multiples analysis was provided for this deal, and valuation remains undisclosed, precluding direct EV/Sales or EV/EBITDA calculations at this time. Comparable satellite communication and HAPS-adjacent businesses are benchmarked across a range of revenue and EBITDA multiples that vary materially by stage and recurring-revenue profile. Explore Venionaire DealMatrix's Satellite Communication sector multiples pages for relevant valuation reference points.
Frequently asked questions
How much did Aalto HAPS raise in its Venture – Series Unknown?
Aalto HAPS raised USD 100 million in a venture round of undisclosed series in 2024.
What is Aalto HAPS's valuation?
Aalto HAPS's valuation was not disclosed as part of this funding round.
Who invested in Aalto HAPS?
The round was funded by Space Compass Corporation, NTT DoCoMo, Mizuho Bank, and the Development Bank of Japan.
When was Aalto HAPS founded and where is it based?
Aalto HAPS was founded in 2022 and is headquartered in Farnborough, United Kingdom.
Source: original announcement — read the full report.