Orbion, manufacturer of in-space plasma propulsion systems, raises $20M Series B
Thrusters are utilized throughout the lifespan of a satellite (or any object in area that requires to keep its orbit, like the area station) to change orbital elevation, prevent collisions, and de-orbit the craft once it has actually reached the end of its helpful life. Orbion CEO Brad King said in a statement that the business thought about contract makers however ultimately picked a vertically integrated production design.”The area game is altering,” Inventus Capital Partners investor Kanwal Rekhi said in a declaration.
had actually formerly raised a $9.2 million Series A in August 2019. Since that time, the business secured a research collaboration with the U.S. Department of Defense that’s testing the resiliency of American area systems. Orbion likewise landed an agreement with satellite maker Blue Canyon Technologies last September.
The company is facing “extraordinary market demand” for its Aurora system, King stated. With the boom of the so-called new space economy, driven in part by the reduced costs of processors, components and even launch, it’s no surprise that there’s been a concurrent uptick in demand for efficient in-space propulsion systems.
The Michigan-based start-up manufactures Hall impact plasma thrusters for usage in small and cube satellites. Thrusters are used throughout the lifespan of a satellite (or any things in space that needs to maintain its orbit, like the spaceport station) to change orbital elevation, prevent accidents, and de-orbit the craft once it has actually reached completion of its beneficial life. Hall thrusters use a magnetic field to ionize a propellant and produce plasma.
Image Credits: Orbion Space Technology (opens in a new window) The company
Electric propulsion developer Orbion Space Technology has raised $20 million in a Series B financing round, which it states it will use to scale production capacity of its Aurora propulsion system.
This latest financing round was led by the US-India VC firm Inventus Capital Partners, with additional involvement from Material Impact, Beringea and Wakestream Ventures.
While they have long been used in space, this type of thruster has mainly been too costly for small satellite operators. Orbion states it has actually created an affordable production capability to meet the growing need of startups and developers releasing to low Earth orbit. Orbion CEO Brad King stated in a statement that the business considered agreement producers but ultimately selected a vertically integrated production model. Now, the business says it has outgrown its existing production area.
“The space video game is changing,” Inventus Capital Partners financier Kanwal Rekhi stated in a statement. “Large satellites are being changed by a wide range of nano-satellites; simply like the PCs changed mainframes. Orbion is offering these nano-satellites maneuverability to enter more accurate orbits and stay there longer.”