Exciting developments are underway in the UK space sector! Orbex, a pioneering UK-based spaceflight company, has just secured a significant £20 million direct investment from the UK Government as part of its ongoing Series D fundraising. This bold move not only elevates Orbex's total funding for Series D to £23 million but also positions the UK as a formidable player in the burgeoning global space industry. For startup founders and investors, this investment underscores an exciting trend: the growing commitment to space technology and the lucrative opportunities that come with it.
At the recent 17th European Space Conference in Brussels, Peter Kyle, Secretary of State for Science, Innovation and Technology, highlighted this investment as a pivotal step in the UK’s ambition to leverage its unique geographic advantages for satellite launches.
With Orbex leading the charge as the only UK-owned launch services provider, the government’s funding aims to foster growth in the domestic space industry and attract global investors. The development of the Prime rocket, a two-stage vehicle designed for small satellite launches, is a focal point of this investment, aimed for its inaugural flight by late 2025.
What makes this investment particularly compelling is that it aligns with a broader vision for the UK's space future. As Phillip Chambers, CEO of Orbex, noted, this funding not only accelerates their project development but also lays the groundwork for future rocket innovations that could further enhance the UK’s competitive position in the European launcher landscape. With a robust team with backgrounds at NASA and ESA, as well as cutting-edge technology powered by bio-propane, Orbex is not just launching rockets; it's creating a sustainable model for space travel. For investors, this presents a unique opportunity to engage in a dynamic and forward-thinking sector ripe with potential.
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