The French new space in-orbit services company Infinite Orbits raised a €12 million round led by Newfund Capital along with the EIC Fund, IRDI Capital Investissement and Space Founders France. The main objective of this fundraising is enabling Infinite Orbits to accelerate the development of its main project “Endurance”, a Life Extension satellite for space assets.
Endurance will empower satellite operators to optimize their fleet management strategies while increasing their return on investment through adding years to the life of their satellites. Endurance is planned to demonstrate the first European Life Extension mission in 2026.
“Last year, we already achieved a major step: we are the first startup in the world to have a commercial nanosatellite in geostationary orbit, we formed a key alliance with satellite operator Intelsat to develop services for its fleet. With four major clients, including Azercosmos, Intelsat, CNES and Hispasat, the Company has closed its second year of revenues and is on a strong growth path to cross the €60 million figure in 2027,” explained Adel Haddoud, CEO of Infinite Orbits. “And as a commercially driven company, the next logical step for us is to offer all GEO operators new reliable and competitive services such as Life Extension.”
Founded in 2017, Infinite Orbits’ Endurance will be operated by Infinite Orbit’s RPO technology (Rendezvous and Proximity Operations), an autonomous vision based navigation technology that allows assets in space to approach and dock to one another. RPO technology will pave the way towards a sustainable utilization of space resources, allowing for a durable space environment. The technology is designed to be replicated for advanced in-orbit services, including close inspection, re-fueling, in-space manufacturing and many more applications yet to materialize following the spectacular growth of satellites launched in recent years.
The verification and validation roadmap of Infinite Orbits’ technology started in 2019 with key technology partnerships including ESA & CNES and with funding from the European Innovation Council (EIC), bpifrance, La Region Occitanie. This roadmap has led to the launch of Infinite Orbits’ Orbit Guard™ #1 to GEO orbit on May 1st 2023, carrying the first version of Infinite Orbits technology.
“We are thrilled to partner with a company like Infinite Orbits, perfectly embodying our commitment to backing deeptech ventures with the potential to lead globally,” said Salim Hassad, Investment Director at Newfund. “Infinite Orbits stands out with its exceptional founding team, robust technological foundation, and promising commercial trajectory. We are confident that Infinite Orbits will not only excel in the in-orbit servicing sector but also emerge as a future international champion.“
Read the orginal article: https://www.eu-startups.com/2024/05/toulouse-based-space-tech-infinite-orbits-bags-e12-million-to-build-first-life-extension-satellite/
