PARIS — Italian space logistics firm D-Orbit has raised 150 million euros ($168 million) in a two-part Series C funding round.
After announcing investments of 100 million euros in January, D-Orbit revealed Sept. 27 that it raised another 50 million euros. The funds will enable D-Orbit to develop space-based cloud computing and in-orbit servicing systems.
To date, D-Orbit has conducted 16 missions and flown 14 ION orbital transfer vehicles. Seven more D-Orbit missions are scheduled for 2025.
Japan’s Marubeni Corp. led the Series C round. Marubeni has exclusive rights to distribute D-Orbit’s services in Japan in Southeast Asia, according to the news release.
New and existing investors participating in the round include: Avantgarde, CDP Venture Capital, Iberis Capital, Indaco Venture Partners, the European Innovation Council, Neva, Phaistos Investment Fund, Primo Ventures and Seraphim Space Investment Trust. Also joining the round was a consortium led by United Ventures that included the European Investment Bank and the European Investment Fund.
“We are thrilled to complete our Series C Round, significantly enhancing our operations and accelerating our global initiatives,” D-Orbit CEO Luca Rossettini said in a statement. “This investment strengthens our commitment to innovation in space transportation, in-orbit servicing, and the vast domain of space logistics.”
With the latest investment, D-Orbit plans to broaden its role in in-orbit servicing, space-based cloud computing and orbital transportation. In addition, D-Orbit is developing new space vehicles to support satellite-life extension and space-debris removal.
The new funds will “aid in creating a ‘circular space economy’, turning space debris into a valuable resource,” according to the news release. “Future advances in in-orbit servicing will enable the collection and recycling of debris in orbit, as well as the manufacture of spacecraft for interplanetary travel.”
Earlier this year, D-Orbit established a joint venture in the United States to manufacture small satellites.
