Ibadan, 27 September 2024. – D-Orbit has announced the second and final closing of its €150m [$166m] Series C Round, making one the biggest space deals in the last 12 months. Marubeni Corporation led the round, cementing a long-term commercial collaboration looking to revolutionize the space logistics industry.
D-Orbit’s existing investors CDP Venture Capital, Seraphim Space Investment Trust, Indaco Venture Partners, Neva SGR (the Intesa Sanpaolo Group’s venture capital company), and Primo Ventures also participated in the funding round.
The round will enable D-Orbit to continue developing its capabilities in space cloud computing and in-orbit servicing. The in-space logistics Company will also facilitate and accelerate its collaborations with governments and space agencies, and broaden its customer reach across geographies and industries. In line with this, the D-Orbit is expanding its services to include satellite lifespan extension and space debris removal alongside its existing satellite deployment and hosted payload in-orbit services.
The successful raise is underpinned by D-Orbit’s track record of 16 successful missions, allowing the company to test its proprietary technologies and third-party innovations in orbit. These tests range from sensors designed to track and map the size, speed, and paths of sub-centimeters debris to help protect satellites from collisions to AI/ML applications designed, for example, to promptly detect flooding and relay flood maps to emergency responders, thereby accelerating response time to environmental crises, potentially saving lives, and minimizing damage to communities.
Luca Rossettini, CEO of D-Orbit, commented about the raise, “We are happy to complete our record-breaking Series C Round, significantly enhancing our operations and accelerating our global initiatives. This investment strengthens our commitment to innovation in space transportation, in-orbit servicing, and the vast domain of space logistics. We deeply appreciate the support from our investors, both new and existing, as we continue to advance the space sector with commitment and passion”
