Following a successful 2023 that saw it launch six missions, Italian space logistics company D-Orbit has announced that it has closed a €100 million Series C funding round.
D-Orbit offers in-space transportation and hosting services aboard its ION space tugs. The flights are generally launched aboard Falcon 9 Transporter missions and include a mix of payloads to be deployed and those that remain aboard the space tug utilizing its onboard resources.
The €100 million Series C funding round was led by Japan’s Marubeni Corporation. The round also saw participation from a number of existing investors, including CDP Venture Capital Sgr, Seraphim Space Investment Trust, United Ventures, and Primo Ventures. Avantgarde joined as a first-time investor.
“This milestone marks a seismic leap in the evolution of D-Orbit,” said D-Orbit CEO Luca Rossettini. “It propels us forward with unprecedented momentum, empowering us to expedite our audacious vision and solidifying our commitment to revolutionize the space logistics industry.
The funding will be utilized to expand the company’s offering with a focus on in-orbit satellite servicing, debris removal, and space-based cloud computing. It will also be used to bolster the company’s operational capabilities across the US, Europe, and the United Kingdom.
While the company’s Series C funding round is already a significant milestone, D-Orbit expects to bring in additional investors in a subsequent closing of the current funding round. The company expects to complete this subsequent closing in the first half of 2024.
