Dr. Max Polyakov
Purchases Majority Stake in Dragonfly Aerospace
Apr 27, 2021
Dr. Max Polyakov announced
the completion of his acquisition of a majority
stake in Dragonfly Aerospace, a South African
NewSpace company with over 20 years of proven
heritage in high-performance imaging satellites
and payloads. This purchase cements Dragonfly
Aerospace’s status as a critical component of
the vertically integrated space ecosystem being
built by Dr. Polyakov and Noosphere Ventures
that includes Firefly, the competitively-priced
space launch provider, EOS Data Analytics
(EOSDA), a satellite data and analytics company
with its own radar and optical satellite
constellations, and SETS, a space electric
thruster systems firm.
“Satellites depend on many
components in the space industry value chain.
Dragonfly Aerospace’s expertise in creating
imaging constellations is an important step in
the development of our vertically integrated
space ecosystem,” commented Dr. Polyakov.
“Dragonfly’s advanced technology provides high
quality images in a wide range of spectrums and
resolutions that are critical for monitoring the
health of our planet and enabling intelligent
agriculture that protects biodiversity. This
improves global food security and supports a
healthy environment which ultimately benefits
the lives of people on Earth.”
Dragonfly Aerospace was
founded in Stellenbosch, South Africa, by a team
of five satellite engineers led by Bryan Dean, a
global specialist in microsatellites and high
resolution cameras. Its compact, high
performance imaging payloads have catapulted the
company into the role of a trusted partner
providing imaging technology. Dragonfly
Aerospace announced at the International
Astronautical Congress 2020 that it had struck a
deal with EOSDA, a Noosphere Ventures portfolio
company, to provide two of Dragonfly’s large
imagers for the company’s satellites.
EOSDA has previously
announced their plans to launch the world’s
first agriculture-focused satellite
constellation, which will also help address
global problems such as climate change, land
degradation and environmental threats.
“I am incredibly proud
today to see the company that I co-founded
become an important part of Dr. Polyakov’s space
ecosystem,” said Bryan Dean. “When our team
started developing our camera technology in 2016
and then first demonstrated it successfully on
the nSight-1 satellite in 2017, I knew that
satellite imaging products would prove critical
in the rapidly developing nanosatellite sphere.
We have applied our extensive experience in
developing and flying large microsatellite
imagers to create innovative products for this
exciting market segment. Our strategy is to work
in partnership with satellite bus providers and
in time deliver microsatellite solutions as
well.”
The Stellenbosch-based
company emerged in January 2020 from Space
Commercial Services (SCS) to lead the next
chapter of South Africa’s proud history of space
engineering and satellite missions. Dragonfly
began with a core team of fifteen people and has
since expanded to over one hundred staff.
Dragonfly Aerospace has
grown to supply a global clientele that includes
NanoAvionics, Loft Orbital and Pixxel among
others with a special focus on Europe, currently
the largest market for imaging technology.
Dragonfly Aerospace also plans to support the
South African National Space Agency (SANSA) and
the SA space industry to achieve its future
space endeavours.