Exotrail Raises $13M for On-Orbit Transportation of Smallsats
Exotrail has raised $13 million (11 million euros) for on-orbit transportation for small satellites. This Series A round was led by two European Venture Capital firms, Karista (through Paris Region Venture Fund) and Innovacom. IXO Private Equity, NCI-Waterstart, Turenne Capital, and returning investors 360 Capital, Irdi Soridec Gestion, and Bpifrance also invested. This round aims to allow Exotrail to extend its product portfolio and scale-up its manufacturing and business development capabilities.
The Series A fundraising aims to enable Exotrail to bring unique solutions to enhance deployment, improve performance, and reduce space pollution in the rapidly growing small satellite space market. Exotrail’s propulsion systems and mission design and operations software will aim to allow small satellites to optimize their deployment in space, choose their orbit, and prevent collisions thus reducing space debris.
“This fundraising reinforces our core mission which is to build sustainable constellations of small satellites. Sustainable in terms of launch costs, performance capabilities and of course space environment. Raising this money in this challenging period is hugely important for us and is a significant success for the company, further underlining the accomplishments of our team in the past two years. Looking to the future, our ambition is to become a leading player in the European NewSpace sector.” said David Henri, one of the four co-founders & CEO of Exotrail.