# July update letter | Skeyeon Inc.

- Canonical URL: https://wefunder.com/feed/174914
- Entity ID: wefunder:feed_item:174914
- Published at: 2024-07-30 23:03:26 UTC
- Updated at: 2025-07-18 05:54:17 UTC

## Author
Ron Reedy

## Subject
Skeyeon

## Content
Subject: Exciting Updates and Progress at Skeyeon Dear Skeyeon Investor, I hope this message finds you well. I wanted to provide you with a comprehensive update on our recent progress and current status. While some of this information might be familiar to you, I aim to ensure that everyone is fully informed.Crowdfunding and Financial OverviewWe recently concluded our crowdfunding campaign on Wefunder, raising approximately $95k. Combined with other investments and profits from our DARPA project, our total cash on hand now exceeds $400k—up from just over $100k at the start of the Wefunder campaign. Additionally, we have a firm commitment for $90k in future funding, which offers further potential upside. This financial strength provides us with ample resources to continue our operations as before, leveraging our exceptional team, which is compensated with both equity and cash. Given our low fixed costs, our current cash reserves will sustain us comfortably for 2-3 years, based on our average burn rate of $10-20k per month.DARPA Ouija ProjectOur work on the DARPA Ouija project is progressing on schedule. Our team has contributed critical expertise in vehicle design, orbital modeling, and advanced materials, including a new atomic oxygen sensor for constant atmospheric monitoring. This new capability could be crucial for future Very Low Earth Orbit (VLEO) satellites, enhancing flight control and dynamics. While the project remains classified, we anticipate completing vehicle manufacturing and launching the first satellite within the next year. Achieving this milestone with non-dilutive funding is a significant accomplishment for Skeyeon.European Space Agency (ESA) ProjectWe are also advancing our project funded by the ESA, where we are tasked with developing a plan for a future VLEO Earth observation constellation. This project includes assessing the technology readiness of critical systems. Once we deliver our plan, ESA will evaluate it and potentially fund further developments to achieve a constellation capable of daily 1m resolution imagery. This aligns perfectly with Skeyeon's vision since 2016, and we look forward to a major review in the Fall and final delivery in Q2 2025.Global Attention and PartnershipsVLEO satellites are attracting global interest, including from our funded programs, announcements from other countries, and inquiries from major public companies. Notably, we are engaging with billion-dollar companies in Japan and the USA, having submitted quotations to one of them and pursuing further opportunities. We are also seeking additional funding from US agencies to support both public and private interest in Skeyeon’s capabilities. Our focus on non-dilutive funding continues to protect the interests of our early investors.Patents and Advisory BoardSince my last update, we have been awarded a second US patent for our radio down-link system and are working on a second patent for our low-drag, atomic oxygen-resistant materials. We now hold foundational patents on vehicle design, materials, and radio links, and we are continuously expanding our portfolio.We have also expanded our Expert Advisory Board (EAB) with new members: Mike Knowles for Government Relations, John Roberti for Congressional Relations, Erica Helgerson for Intellectual Property Management, and Tero Ranta for Communications Systems and Design. Their resumes will be updated on our website shortly athttps://skeyeon.com/experts/.Closing ThoughtsThank you for your continued support and investment in Skeyeon. Your contribution has transformed the concept of VLEO satellites from a visionary idea into a burgeoning area of global development. We are proud to be recognized as pioneers in commercial VLEO satellites and are excited to see our vision taking shape. Sincerely,Ron Reedy, Ph.D.CEO, Skeyeon