Funding

InSpacePropulsion Technologies funding news – InSpacePropulsion Technologies Secures €2 Million in Pre-Seed Funding

Jul 2, 2024 | By Startup Rise EU

InSpacePropulsion Technologies GmbH (ISPTech), a spin-off from the German Aerospace Center (DLR), secures €2 million in pre-seed funding. ISPTech is addressing a key challenge that satellite manufacturers and operators face, by developing innovative propulsion systems based on non-toxic, so-called “green” propellants.

InSpacePropulsion Technologies GmbH (ISPTech), a spin-off from the German Aerospace Center (DLR), secures €2 million in pre-seed funding. ISPTech is addressing a key challenge that satellite manufacturers and operators face, by developing innovative propulsion systems based on non-toxic, so-called “green” propellants.

SUMMARY

  • InSpacePropulsion tech is building propulsion systems for spacecraft of all sizes, from small CubeSats to large satellites, that offer the highest performance and reliability at the lowest price in the market.
  • The rapidly growing space market has a high demand for affordable, quickly available and reliable propulsion solutions.

This approach allows significantly reduced overall costs, rapid availability and simplifies spacecraft operations. The propulsion systems offer superior performance compared to the current green propulsion market standard. With its solutions, InSpacePropulsion addresses any spacecraft, from small CubeSats to large satellites, capsules or landers.

The round is led by HTGF and backed by co-investments of First Momentum Ventures and Possible Ventures, three renowned deep-tech investors. The investment will be used to make ISPTech’s propulsion technologies ready for its first customers and spaceflight.

Current in-space propulsion systems are expensive, complex and operate with highly toxic propellants. These toxic propellants cause extensive handling efforts, which complicate and slow down the development and qualification process of propulsion systems, besides increasing the overall costs.

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In addition, alternative solutions currently on the market either lack performance or operational simplicity. These key challenges ISPTech has overcome: based on more than 10 years of R&D work at the German Aerospace Centre (DLR), ISPTech’s founders developed advanced propulsion technologies that work with green propellants.

The acquired funding will be used to further develop the propulsion technology to achieve qualification for space flight and serve initial customers. InSpacePropulsion technology will be used on first flights at the end of 2025. These missions will demonstrate the operationality, robustness and performance of ISPTech’s propulsion systems and space qualify the propulsion system for wider market adoption.

Dr. Koen Geurts, Investment Manager at HTGF said, "The satellite market growth in the next decade and the increasing need for space debris avoidance manoeuvres will see a huge demand for chemical propulsion systems, especially non-toxic solutions, democratizing access to space. ISPTech is the only startup offering solutions from below 1N to 1kN with high TRL and exceptionally positioned to set a new market standard."

Dr. Maximilian Ochs, Investor at First Momentum Ventures said,
"Over the next ten years, we anticipate an increasing demand for in-space manoeuvres that can only be facilitated by chemical propulsion. ISPTech is in a prime position to become the European leader in non-toxic chemical propulsion. Their systems are already way ahead of the competition in terms of performance, stability, and robustness."

Dr. Christoph Baumeister, Principal at Possible Ventures said, "As the space economy expands, the demand for reliable, eco-friendly, and cost-effective chemical propulsion systems becomes indispensable. ISPTech’s innovative approach and European engineering excellence positions them as the frontrunner, and we are proud to support their mission."

About InSpacePropulsion

InSpacePropulsion Technologies GmbH (ISPTech) offers propulsion solutions to allow uncompromised mobility in space – suitable for every spacecraft from small CubeSats to large capsules and landers. The products are based on non-toxic propellants, combine high performance and robustness with affordability and good availability.

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