D-Orbit, a European Space Tech company, has successfully raised approximately 100 million euros in its Series C funding round. This funding round is one of the largest for a European Space Tech company and builds on D-Orbit’s impressive performance in 2023, which included triple-digit annual revenue growth since 2021 and securing over 60 million euros 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. The company focuses on the sustainable transport of goods, information, and people in space. D-Orbit has achieved significant growth with 15 successful missions and the deployment of 13 ION orbital transfer vehicles, solidifying its position as a global leader in in-space transportation. The company’s ability to test new technologies in orbit has been crucial in fostering the growth and strength of the space ecosystem.
The Series C funding round is led by Marubeni Corporation, a major player in Japan’s industrial sector. This partnership not only provides financial backing but also establishes a long-term commercial collaboration, extending Marubeni’s agency mandate for D-Orbit to the entire Southeast Asia region. Other participants in the funding round include Avantgarde, a family office with a strong presence in the pharmaceutical and space industries, as well as existing investors such as CDP Venture Capital Sgr, Seraphim Space Investment Trust, United Ventures, and others.
Luca Rossettini, CEO of D-Orbit, expressed his excitement about this achievement and stated that it will propel the company forward with unprecedented momentum. He thanked both long-standing and new investors for their trust and support in D-Orbit’s transformative journey.
The investment will enable D-Orbit to expand its operations in areas such as in-orbit satellite servicing and space cloud computing. It will also enhance operational capabilities across the US, Europe, and the United Kingdom. One of the main goals of this funding is to support the development of a ‘circular space economy’ by converting space debris into a resource. This will advance in-orbit recycling and the manufacture of spacecraft for interplanetary travel. D-Orbit is actively developing a space cloud network to manage these initiatives.
In addition to its focus on space sustainability and environmental responsibility, D-Orbit plans to expand its services to include satellite lifespan extension and space debris removal. These services will complement its existing satellite deployment and payload testing services.
Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital Sgr, emphasized 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.
Overall, this significant funding round will enable D-Orbit to further advance space logistics and in-orbit services, bringing the company closer to its vision of powering a trillion-dollar in-orbit economy.