D-Orbit Secures Record euro 100m in Series C Funding, Advancing Space Logistics and In-Orbit Services

Written by Copernical Team Friday, 12 January 2024 21:23

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Fino Mornasco, Italy (SPX) Jan 12, 2024

D-Orbit has announced the successful first closing of its Series C funding round, amassing approximately euro 100 million. This substantial funding, one of the largest for a European Space Tech company, builds on D-Orbit's impressive performance in 2023, including triple-digit annual revenue growth since 2021 and securing over euro 60 million in contracts from European governments and space ag

D-Orbit Secures Record euro 100m in Series C Funding, Advancing Space Logistics and In-Orbit Services
by Robert Schreiber
Fino Mornasco, Italy (SPX) Jan 12, 2024

D-Orbit has announced the successful first closing of its Series C funding round, amassing approximately euro 100 million. This substantial funding, one of the largest for a European Space Tech company, builds on D-Orbit's impressive performance in 2023, including triple-digit annual revenue growth since 2021 and securing over euro 60 million in contracts from European governments and space agencies.

D-Orbit's vision is to establish a space logistics infrastructure to power a future $1 trillion in-orbit economy, focusing on the sustainable transport of goods, information, and people in space. The company's growth trajectory is underscored by its 15 successful missions and the deployment of 13 ION orbital transfer vehicles, affirming its position as a global leader in in-space transportation. The company's record of testing new technologies in orbit has been instrumental in fostering the growth and strength of the space ecosystem.

The recent funding round is spearheaded by Marubeni Corporation, a major player in Japan's industrial sector. This partnership not only secures financial backing but also establishes a long-term commercial collaboration, extending Marubeni's agency mandate for D-Orbit to the entire Southeast Asia region. Joining Marubeni in this round is Avantgarde, a family office with a strong presence in the pharmaceutical and space industries, alongside existing investors such as CDP Venture Capital Sgr, Seraphim Space Investment Trust, United Ventures, and others.

Luca Rossettini, CEO of D-Orbit, commented on this achievement, stating, "This milestone propels us forward with unprecedented momentum, empowering us to expedite our vision and revolutionize the space logistics industry." He expressed gratitude to both long-standing and new investors for their trust and support in D-Orbit's transformative journey.

The investment will facilitate D-Orbit's expansion in areas like in-orbit satellite servicing and space cloud computing. Additionally, it will enhance operational capabilities across the US, Europe, and the United Kingdom. A notable goal of this funding is to support the development of a 'circular space economy', focusing on converting space debris into a resource, thus advancing in-orbit recycling and the manufacture of spacecraft for interplanetary travel. These initiatives will be managed through a space cloud network, which D-Orbit is actively developing.

Furthermore, D-Orbit continues its commitment to space sustainability and environmental responsibility, particularly in response to the growing frequency of satellite launches. The company is set to expand its services to include satellite lifespan extension and space debris removal, in addition to its existing satellite deployment and payload testing services.

Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital Sgr, highlighted D-Orbit's role as a global leader in the in-orbit transportation segment and its distinction as the world's first B-Corp certified space company. James Bruegger, Managing Partner and Chief Investment Officer at Seraphim Space, also praised D-Orbit's contributions to developing sustainable in-space servicing and transportation.