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Electric Propulsion Startup Morpheus Space Raises $28M Series A Round 

By | September 16, 2022

A Morpheus Space propulsion model. Photo: Morpheus Space

Propulsion startup Morpheus Space raised a $28 million Series A funding round led by space VC Alpine Space Ventures. The company develops electric propulsion systems for small satellites and said this round of funding will increase manufacturing capability with a new factory in Dresden, Germany

Other investors included Morpheus Ventures, Vsquared Ventures, Lavrock Ventures, Airbus Ventures, In-Q-Tel, Pallas Ventures, and Techstars Ventures. 

Morpheus Space debuted in 2018 Morpheus completed a seed round in 2020. The company plans to use some of the funding to expand staffing across multiple disciplines and levels, with the goal of bringing their final headcount to over 100 people in the next year. 

Alpine Ventures partner and Mynaric CEO Bulent Atlan said Morpheus Space’s mission products will meet growing demand for propulsion for small satellites, in the light of a potential five-year rule for post-mission disposal of LEO satellites and the increasing need for maneuverability in LEO for debris and collision avoidance. 

“To succeed, we need to rely on each other and help solve the problems of our partners to maintain growth. With this funding round, we will be able to produce high quality hardware on a much larger scale that the industry needs and we look forward to how it will open doors for us and others in the future,” said István Lőrincz, co-founders and president of Morpheus Space.