Ibadan, 6 August 2024. – Dcubed has successfully closed its Series-A funding round that saw oversubscription by 26% to boost further growth in the global space market. Eight prominent investors from France, Sweden, Germany, and the U.S., including Expansion and BayBG joined the round as lead investors, alongside HTGF, Aurelia Foundry, Ventis, Rymdkapital, and Decisive Point Europe.
Dcubed will utilize the fresh funding to scale the current production of satellite actuators and drive up its position in the sector of in-space manufacturing. To achieve this, the Company will be opening a U.S. Office in Westminster, Colorado and Andria Fortier will lead the office as Managing Director, overseeing U.S. operations and fostering strategic relationships with American customers and partners. For the German Company, the successful round also demonstrates significant market trust and investor confidence in it.
The US currently accounts for over half of Dcubed’s client base, and the new office aims to grow its team into the double digits in 2025. As a result, Fortier brings with her nearly a decade of experience in the aerospace and defence industry across disciplines ranging from marketing and strategy to management consulting.
Speaking about the raise and the Company’s ambitions, Thomas Sinn, CEO of Dcubed, said. “Together with our global investors, we have a solid foundation to boost future growth in the booming space market. With the fresh funding, we will quadruple the production of our current product. At the same time, we are chasing ‘the next big thing’ in space by taking a trailblazing role in the field of in-space manufacturing. By opening our U.S. office, we tap into the world’s most vibrant space ecosystem to further expand our global footprint and develop space innovations for the years to come.”
