Controlmatik Energy and Engineering Inc. continues its investment and financing activities. Plan-S, the company’s satellite and space technology unit, will participate in the investment round to achieve equity financing at a valuation of $400 million.

For this financing round, Ziraat Bank from the investment branch support will be received. With this fund, Plan-S plans to obtain an investment of up to $40 million from corporate and individual investors in Turkey and abroad. The statement came from Controlmatik Chairman of the Board of Directors Sami Aslanhan.

It will be used for R&D and expansion of the satellite fleet.

The proceeds from this first round of investment by Plan-S will be R&D studies and will be used to increase the number of satellites in low orbit. The company currently has five test models in orbit. This fleet will increase to 22 by July 2025, This number should be expanded to over 200 by 2030 is planned. These satellites were produced in Turkey and launched with SpaceX.

Aslanhan said in his statement: Plan-S It was stated that he personally owned 44.5% of the shares, and Controlmatik’s share in the company was 25%. According to Aslanhan, the investment tour will be completed in the coming month. Another point Aslanhan touched upon was that Plan-S will be publicly listed on the Nasdaq in 2027-2028.

Turkey, since 2022 has announced its space strategy, which includes training astronauts and developing its own spaceport.