Precious Payload acquires HOSTmi to fast-track the rise of the European commercial space industry
Berlin, May 12, 2022: Precious Payload today announced the acquisition of HOSTmi GmbH, a German space tech company, to fast-forward the commercialization of the European space industry. This strategic partnership will leverage Precious Payload’s developer tools and other smart solutions to lead joint projects, and strengthen existing HOSTmi services.
Precious Payload and HOSTmi have spent years building the digital space marketplace using different solutions to the same key challenges faced by satellite and launch operators. Now, they can bring their experience together to achieve a shared goal: using software to bring space down to Earth for everyday people.
The global launch market is rapidly changing; in Europe, it is moving at lightning speed. And now, with the rise of digital technologies and new ways to connect with clients, it’s more important than ever to have a competitive edge in both internal and external markets to keep up with American counterparts.
On the other side of the marketplace, access to space is essential for companies looking to increase their tech-readiness level, conduct tests, and operate in orbit or microgravity. The ability to secure a launch and related services affects decision-making across the business, from product development to staffing, fundraising, and mission design.
Co-founder and CEO of Precious Payload Andrew Maximov said, “A big push of EU and German companies specifically is to create sovereign launch capability. This is the right time for us to enter the European market with our cutting-edge technologies through working with HOSTmi.”
Precious Payload’s business model is built on the simple concept that time is money. Their software and solutions handle the launch campaign and associated tasks to free up the client’s expensive engineering hours for perfecting the precious payload (the key competitive advantage) and delivering maximum value.
Shahrokh Khodabakhshi, HOSTmi’s Co-founder and CEO said: “We are thrilled to have strengthened our platform and services with Precious Payload’s developments and connections. HOSTmi continues to grow and will get stronger with this new union.”
About Precious Payload
Precious Payload is a US/UAE space tech company building software for engineering teams to design custom space missions from ready-made modules. Precious Payload’s product ctrl.space saves engineering time for space companies to work on what really matters: the technology.
HOSTmi GmbH, a German company, builds and operates the online space mobility platform miSMART. To make this technology available to a broader range of stakeholders, HOSTmi has been working to digitally map space mission requirements, standardise industry language, automate processes, and to develop intelligent algorithms. This online platform and associated services adapted to the needs of the industry lay the foundation for standardized processes efficiently hooking up more payloads with flight opportunities.