D-Orbit Successfully Closes a €150m [$166m] Series C Round

September 27 2024

 D-Orbit has announced today the second and final closing of its €150m [$166m] Series C Round, making one the biggest space deals in the last 12 months.

This raise was underpinned by D-Orbit’s impressive and unparalleled track record of 16 successful missions;14 ION Satellite Carriers, the Company’s proprietary orbital transfer vehicle, have been launched in orbit since 2020, and a further seven launches have been planned for 2025. These missions have allowed the company to test both D-Orbit’s proprietary technologies and pioneering 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.

The round allows D-Orbit to continue developing its capabilities in space cloud computing and in-orbit servicing. It will also facilitate and accelerate its collaborations with governments and space agencies as well as broaden its customer reach across geographies and industries. It is also expected that part of the procedures will be used to make strategic acquisitions to broaden the Company’s product set.

The round is led by Marubeni Corporation, a powerhouse in the Japanese industrial sector, cementing a long-term commercial collaboration poised to revolutionize the space logistics industry.

This partnership builds on Marubeni's exclusive rights to distribute D-Orbit's services in Japan, now expanding to Southeast Asia, and leverages Marubeni’s extensive network and expertise to accelerate D-Orbit’s growth as a leading provider of satellite logistics solutions in key global markets.

D-Orbit’s outstanding market position and growth prospects meant that 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.

The large size of the round has also allowed for new market leading investors to join the shareholder register. These include Avantgarde, a well-established family office with roots in the pharmaceutical and space industries, Iberis Capital, leading Portuguese private equity and venture capital portfolio manager, European Innovation Council (EIC) Fund that supports game changing innovative companies, Phaistos Investment Fund, a venture capital fund managed by 5G Ventures and backed by the Greek state, Terna Forward, the Corporate Venture Capital vehicle of the Italian Transmission System Operator Terna, and private investors with focus on tech investments.

Furthermore, a consortium led by the existing shareholder United Ventures (primary Italian fund focused on technology), including the European Investment Bank, and the European Investment Fund, participated re-iterating strong support to the Company’s strategic plan.

These funds will support the development of a 'circular space economy', turning space debris into a valuable resource. This will include advances in in-orbit servicing to enable the collection and recycling of debris in orbit, as well as the manufacture of spacecraft for interplanetary travel. With the increasing number of satellites launches, D-Orbit remains dedicated to promoting space sustainability and environmental responsibility. The Company is set to expand its services to include satellite lifespan extension and space debris removal alongside its existing satellite deployment and hosted payload in[1]orbit services.