Ibadan, 15 May 2024. – Infinite Orbits has concluded its first fundraising round, raising €12M in a round which Newfund Capital led. The round also saw participation from the EIC Fund, IRDI Capital Investissement and Space Founders France (a CNES venture arm). The closing of this round demonstrates confidence in Infinite Orbits’ vision and marks an important confirmation of the Company’s roadmap.
The successful raise will enable Infinite Orbits to accelerate the development of its main project “Endurance”, a Life Extension satellite for space assets. Endurance aims to empower satellite operators to optimize their fleet management strategies while increasing their return on investment by adding years to the life of their satellites. Consequently, Endurance will tentatively demonstrate its first European Life Extension mission in 2026.
Infinite Orbit’s RPO technology (Rendezvous and Proximity Operations) will operate Endurance. It is an autonomous vision-based navigation technology that allows assets in space to approach and dock to one another. As a result, the RPO technology will pave the way towards a sustainable utilization of space resources, allowing for a durable space environment. The Company’s technology verification and validation roadmap started in 2019 with key technology partnerships including ESA and CNES.
Adel Haddoud, CEO of Infinite Orbits, commented, “Last year, we achieved a major step: we are the first startup in the world to have a commercial nanosatellite in geostationary orbit, we formed a key alliance with satellite operator Intelsat to develop services for its fleet. With four major clients, the Company has closed its second year of revenues and is on a strong growth path to cross the €60M figure in 2027.” The CEO also added, “As a commercially driven company, the next logical step for us is to offer all GEO operators new reliable and competitive services such as Life Extension.”
