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Sceye Valued at $525 Million and Poised for 2025 Commercial Launch
PARIS, Sept. 17, 2024 /PRNewswire/ -- At World Space Business Week (WSBW) today, Sceye, a leading U.S. aerospace company specializing in High-Altitude Platform Systems (HAPS), announced the successful closing of its Series C funding round. The round was led by Mawarid Holding Company ("Mawarid"), a prominent Saudi corporation with an established presence in information and communication technology, satellite, and digital solutions.
Sceye strengthened its balance sheet by closing the Series C funding round, which values the Company at a pre-money valuation of $525 million. This provides sufficient liquidity to fund R&D activities, flight programs and launch the initial commercial operations in 2025.
This strategic alliance continues Sceye's successful partnership strategy, following América Móvil's involvement as the largest investor in their Series B round with a focus on Latin America.
"The Series C round is a critical milestone for Sceye. These funds will accelerate our platform development and commercial roadmap, paving the way for the commercialization of our HAPS technology in 2025. Our partnership with Mawarid opens new territories and market opportunities for our innovative solutions," said Mikkel Vestergaard Frandsen, CEO and Founder of Sceye.
Ghassan Itani, Assistant Chairman of Mawarid, added, "This partnership reinforces Mawarid's commitment to pioneering technology advancements and delivering digital solutions that serve critical industry sectors. By incorporating HAPS technology, we enhance our position as a comprehensive provider of strategic industry solutions."
This Series C investment announcement follows the success of Sceye's 2024 flight program, where the company achieved a significant milestone by demonstrating perpetual flight capabilities while staying over an area of operation. The test flight proved that Sceye's HAPS can operate continuously, with solar energy powering the system during daylight hours and battery storage ensuring overnight flight.
This achievement signifies the advent of a new infrastructure layer between terrestrial and space systems. It highlights the transformative potential of HAPS technology in expanding connectivity access, managing disaster response, monitoring environmental changes, and detecting climate-related disasters in real time.
About Sceye
Founded in 2014, Sceye is an aerospace company dedicated to advancing stratospheric technology to connect people and protect the planet. Sceye leads the High-Altitude Platform Systems (HAPS) industry, focusing on universal connectivity, climate monitoring, natural resource management, and disaster prevention.
About Mawarid:
Established in 1968, Mawarid Holding Company (MHC) is a leading Saudi corporation with a diverse portfolio spanning, but not limited to, ICT, satellite, and digital solutions. MHC has been a player in the global communications landscape, including its role as a founder and shareholder in Iridium Communications Inc. (Nasdaq: IRDM) since the early 1990s and its operations in various ICT and media sectors across the Middle East (e.g., Salam, TLS, ATSS, "Noorsat: Geo-operator").
Media Contact:
Jasmine Wallsmith
jw@sceye.com
Sceye Valued at $525 Million and Poised for 2025 Commercial Launch
PARIS, Sept. 17, 2024 /PRNewswire/ -- At World Space Business Week (WSBW) today, Sceye, a leading U.S. aerospace company specializing in High-Altitude Platform Systems (HAPS), announced the successful closing of its Series C funding round. The round was led by Mawarid Holding Company ("Mawarid"), a prominent Saudi corporation with an established presence in information and communication technology, satellite, and digital solutions.
Sceye strengthened its balance sheet by closing the Series C funding round, which values the Company at a pre-money valuation of $525 million. This provides sufficient liquidity to fund R&D activities, flight programs and launch the initial commercial operations in 2025.
This strategic alliance continues Sceye's successful partnership strategy, following América Móvil's involvement as the largest investor in their Series B round with a focus on Latin America.
"The Series C round is a critical milestone for Sceye. These funds will accelerate our platform development and commercial roadmap, paving the way for the commercialization of our HAPS technology in 2025. Our partnership with Mawarid opens new territories and market opportunities for our innovative solutions," said Mikkel Vestergaard Frandsen, CEO and Founder of Sceye.
Ghassan Itani, Assistant Chairman of Mawarid, added, "This partnership reinforces Mawarid's commitment to pioneering technology advancements and delivering digital solutions that serve critical industry sectors. By incorporating HAPS technology, we enhance our position as a comprehensive provider of strategic industry solutions."
This Series C investment announcement follows the success of Sceye's 2024 flight program, where the company achieved a significant milestone by demonstrating perpetual flight capabilities while staying over an area of operation. The test flight proved that Sceye's HAPS can operate continuously, with solar energy powering the system during daylight hours and battery storage ensuring overnight flight.
This achievement signifies the advent of a new infrastructure layer between terrestrial and space systems. It highlights the transformative potential of HAPS technology in expanding connectivity access, managing disaster response, monitoring environmental changes, and detecting climate-related disasters in real time.
About Sceye
Founded in 2014, Sceye is an aerospace company dedicated to advancing stratospheric technology to connect people and protect the planet. Sceye leads the High-Altitude Platform Systems (HAPS) industry, focusing on universal connectivity, climate monitoring, natural resource management, and disaster prevention.
About Mawarid:
Established in 1968, Mawarid Holding Company (MHC) is a leading Saudi corporation with a diverse portfolio spanning, but not limited to, ICT, satellite, and digital solutions. MHC has been a player in the global communications landscape, including its role as a founder and shareholder in Iridium Communications Inc. (Nasdaq: IRDM) since the early 1990s and its operations in various ICT and media sectors across the Middle East (e.g., Salam, TLS, ATSS, "Noorsat: Geo-operator").
Media Contact:
Jasmine Wallsmith
jw@sceye.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Sceye Secures Funds in Series C Round Led by Mawarid Holding Company
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DUBAI, UAE, Jan. 2, 2026 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is pleased to announce its New Year Edition Daily Treasure Hunt, an exclusive six-week rewards program powering traders to build early momentum heading into 2026.
The New Year special edition Bybit Daily Treasure Hunt comes with early registration and an extended timeline tiding users over from December 30, 2025 all the way to February 9, 2026. A series of highlights spans daily trading tasks to earn points, unlimited daily draws, and grand prizes including BTC, and Bybit VIP Trial Passes.
All Paths Lead to Rewards
To start earning points, eligible Bybit users may register for the event and pick a rewards path based on their trading styles and preferences:
- Building Daily Trading Momentum: Traders can earn points through completing daily tasks, starting with trades as small as 10 USDT, with extra rewards for consistency by achieving consecutive trading days.
- Exploring Bybit for More Points: Engaging with Bybit's product ecosystem and platform features for extra points.
- Alpha Quests: Embarking on limited-time alpha missions and complete special missions featuring new Bybit products for accelerated point accumulation.
Throughout a treasure-hunting season full of surprises for Bybit's versatile traders, the points earned will convert to tangible value through various reward mechanisms:
- Unlimited Scratch Cards: 50 points per draw with no daily limits from a pool of 1,000,000 cards
- Hot Token Rewards: Access to a curated New Year prize pool featuring trending tokens
- Elite Rewards: High-value rewards including BTC, VIP Trial Passes, and Hot Token airdrops
Getting a headstart in 2026 stands to be both rewarding and fun for traders at Bybit. The special-edition Daily Treasure Hunt aspires to ring in a winning year for Bybit users as they explore the digital asset class and level up their trading skills.
Terms and conditions apply. For details on eligibility and potential restrictions, users may visit: [New Year Edition] Daily Treasure Hunt: Find your alpha
#Bybit / #CryptoArk / #IMakeIt
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit's Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
DUBAI, UAE, Jan. 2, 2026 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is pleased to announce its New Year Edition Daily Treasure Hunt, an exclusive six-week rewards program powering traders to build early momentum heading into 2026.
The New Year special edition Bybit Daily Treasure Hunt comes with early registration and an extended timeline tiding users over from December 30, 2025 all the way to February 9, 2026. A series of highlights spans daily trading tasks to earn points, unlimited daily draws, and grand prizes including BTC, and Bybit VIP Trial Passes.
All Paths Lead to Rewards
To start earning points, eligible Bybit users may register for the event and pick a rewards path based on their trading styles and preferences:
- Building Daily Trading Momentum: Traders can earn points through completing daily tasks, starting with trades as small as 10 USDT, with extra rewards for consistency by achieving consecutive trading days.
- Exploring Bybit for More Points: Engaging with Bybit's product ecosystem and platform features for extra points.
- Alpha Quests: Embarking on limited-time alpha missions and complete special missions featuring new Bybit products for accelerated point accumulation.
Throughout a treasure-hunting season full of surprises for Bybit's versatile traders, the points earned will convert to tangible value through various reward mechanisms:
- Unlimited Scratch Cards: 50 points per draw with no daily limits from a pool of 1,000,000 cards
- Hot Token Rewards: Access to a curated New Year prize pool featuring trending tokens
- Elite Rewards: High-value rewards including BTC, VIP Trial Passes, and Hot Token airdrops
Getting a headstart in 2026 stands to be both rewarding and fun for traders at Bybit. The special-edition Daily Treasure Hunt aspires to ring in a winning year for Bybit users as they explore the digital asset class and level up their trading skills.
Terms and conditions apply. For details on eligibility and potential restrictions, users may visit: [New Year Edition] Daily Treasure Hunt: Find your alpha
#Bybit / #CryptoArk / #IMakeIt
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit's Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
New Year Special: Bybit Daily Treasure Hunt Kicks Off 2026 with Six Weeks of Rewards
