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D-Orbit Secures €100m in First Closing in Series C Funding

ION Satellite Carrier deploying CubeSats. Credit: D-Orbit

Ibadan, 12 January 2024. – Sequel to the investment agreement between Marubeni Corporation and D-Orbit from last November, D-Orbit has announced the successful first closing of its Series C funding round, raising about €100m with Marubeni Corporation leading the round. This consequently cements a long-term commercial collaboration between both parties that will potentially revolutionize the space logistics industry. Furthermore, it extends Marubeni agency mandate for D-Orbit to the entire Southeast Asia.

The funding round, which is one of the largest ever for a European Space Technology company, follows D-Orbit’s stellar 2023, which saw it deliver triple-digit yearly revenue growth since 2021, win more than €60m in European Government/space agency contracts and successfully complete an additional seven missions of its ION orbital transfer vehicle.

Proceeds from this investment will fuel the continued expansion of D-Orbit’s space-logistics service offering in areas such as in-orbit satellite servicing and space cloud computing. Furthermore, it will help enhance D-Orbit’s operational capabilities across the US, Europe and the United Kingdom. The Company aims to create the space logistics infrastructure that will power the $ 1 trillion future in-orbit economy by enabling the sustainable transportation of goods, information and people in Space.

Speaking on the successful round, Luca Rossettini, CEO of D-Orbit, commented: “This milestone marks a seismic leap in the
evolution of D-Orbit. It propels us forward with unprecedented momentum, empowering us to expedite our audacious vision and solidifying our commitment to revolutionize the space logistics industry.

Alongside Marubeni, Avantgarde also joined the first closing. Existing investors also renewed their confidence in D-Orbit and made incremental investments in this round, including CDP Venture Capital Sgr, Seraphim Space Investment Trust, United Ventures, Indaco Venture Partners, Neva SGR Spa, and Primo Ventures, among others.

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