ISU SSP - 2022 - Banner

Promus Ventures closes €120 million space fund

Image: Promus Ventures

Edinburgh/ Luxembourg, 27 October 2021. – Promus Ventures has closed a €120 million space fund named Orbital Ventures, Promus announced. The Luxembourg-based fund focuses on early-stage, space-related companies.

The European Investment Fund contributed €40 million, while other investors include the Luxembourg Government through the Ministry of Economy and the National Credit and Investment Institution.Luxembourg Government through the Ministry of Economy and the National Credit and Investment Institution.

Since its first close in January 2020, Orbital Ventures has invested in companies including Isotropic Systems, Ellipsis Drive, Fernride, Akasha Imaging, Recycleye and Wakeo. The space fund targets a broad spectrum of areas such as telecommunications networks, geospatial location-based services and applications. Robotics, sensors, data, Earth observation and environmental monitoring, transportation, logistics and space resource utilisation are also among the objectives.

The Orbital Ventures fund is managed by Promus Ventures which has offices in Chicago, San Francisco, and Luxembourg. The deep-tech venture capital company has invested in over 90 early-stage startups worldwide like Rocket Lab and Spire.

Check Also

#SpaceWatchGL Opinion: Review of Space Resources Week 2022 – Part 1

This is Part 1 of a review of Space Resources Week 2022, the descriptive part. Part 2 may appear in a subsequent edition with the author’s more personal views on several space resource utilization topics in the context of SRW. We recently attended online the 2022 hybrid 4th edition of Space Resources Week, held in Luxembourg from May 3 to 5.