Orbion space technology raised $ 20 million in Series B funding in an oversubscribed round led by Inventus Capital Partners, a venture capital firm focused on developing businesses that define and dominate high growth markets. Material impact, Beringea and Wakestream companies.
With Orbion Aurora Hall-plasma effect thruster system seeing widespread market acceptance, the company quickly outgrown its existing manufacturing infrastructure.
from Orbion Dawn The propulsion system uses the electrical energy of the spacecraft to provide a smooth but very fuel efficient thrust that is required by commercial constellations, demanding government applications as well as deep space science missions. Aurora is used throughout the life of a spacecraft to increase the altitude of the orbit, avoid collisions in space and finally desorbit the spacecraft at the end of its life. Orbion’s manufacturing approach combines best practices developed in the automotive and tactical missile industries to achieve the optimum combination of capability, low cost, and high reliability.
As the demand for electric propulsion increases, Orbion receives and responds to great interest from constellation builders, with market opportunities estimated at $ 1 billion. Recent notable contracts include the Department of Defense and Blue Canyon.
“We have built and operate a state-of-the-art space manufacturing facility, but due to unprecedented market demand we are at a point where additional capital will help us increase our production capacity to hundreds of. units per year without sacrificing qualityyeah ”, said Brad king, co-founder and CEO of Orbion. “Controlling the entire manufacturing process is essential to control quality and guarantee the responsiveness of our customers. We looked at various business models that employed subcontractors to build our thrusters, but ultimately the thruster carries an Orbion branding and our customers should know that it was built entirely by experts in the field. We strongly believe in vertically integrated manufacturing, and we are excited to evolve our best-in-class space factory operations.. “
“The space game is changing. The large satellites are replaced by a multitude of nanosatellites; just like PCs have replaced mainframes. Orbion provides these nano-satellites with the maneuverability to enter more precise orbits and stay there longer,” mentionned Kanwal Rekhi, Managing Director, Inventus Capital Partners.