a year ago

Orbex Secures £16.7 Million for Upcoming Satellite Launch

  • Scottish rocket manufacturer Orbex has secured £16.7 million in funding as it prepares for the launch of its Prime satellite transportation vessel

  • The investment, which includes a £10.5 million follow-on investment from the Scottish National Investment Bank, will support the company's upcoming Series D round

  • Orbex, one of only two UK-based space rocket manufacturers, is known for its use of renewable biofuel in its rockets

  • The company plans to launch Prime from its Sutherland spaceport, once construction is complete

  • The funding follows Orbex's £40 million Series C round in 2022, bringing the total amount raised by the firm to £102 million.

      • ProblemTechnology

      "Launching small satellites into orbit is expensive and often relies on non-renewable fuels."

      Solution

      "Orbex offers a cost-effective and sustainable solution for launching small satellites into orbit using rockets powered by renewable biofuel."

      Covered on