Ibadan, 16 May 2023. – Reflex Aerospace is gearing up for its first commercial space mission, securing a fixed slot for the rocket launch of its demo satellite. The launch will tentatively take place in the fall of 2024 on a Falcon 9 rocket from SpaceX. The mission aims to validate new technologies in space for the first time. The demo satellite, which weighs around 120 kilograms, is currently under development and will be assembled in Munich. Furthermore, the local ‘micro factory’ for producing customer-specific satellites will tentatively open later this year.
In realizing these targets, the Company has expanded its seed financing by a further 1.75 million euros (to a total of nearly 9 million euros). In addition to increases from existing investors, Bayern Kapital is also joining the group of shareholders through its EFRE Bayern innovation fund. The investment should, among other things, support the establishment of the first micro-factory near Munich. Furthermore, the Company expects the seed funding to increase during the year due to its expected commercial order intake.
Walter Ballheimer, CEO of Reflex Aerospace, commented, “As a new space start-up, we are, of course, eager to demonstrate the performance of our technologies directly in space. Therefore, we are very glad that this milestone now comes within reach with our first fixed launch slot. The increase in our financing confirms our investors’ confidence in this goal.”
Ballheimer also added, “With this tailwind, we are pushing ahead with the construction of our micro-factory, which we will open in Munich in the second half of 2023. In addition, we are fully on track to almost double our workforce across all sites to around 50 employees in 2023.”