- Parabolic Arc
- May 26, 2023
Venture Orbital Systems Closes on 10 Million Euros Series A Funding Round
REIMS, France (Venture Orbital Systems PR) — Our company has shown steady progress toward the development of our orbital launcher over the past few months. To further our momentum, we have recently closed a major agreement in funding. Get to know the details in the video above with Stanislas Maximin, CEO.
Since moving in our first micro-launcher factory in Reims back in October 2021, our team at VOS has been achieving a lot toward the first flight of Zephyr.
To ensure future launches, we signed our first MoU with Scotland SaxaVord Spaceport in February of this year. During the winter, we also ran a test campaign of our engine igniter right into our factory. This hardware exploration is a key milestone in the development of Navier, our in-house fully 3D-printed engine that will propel Zephyr. We also moved forward with the design of our future mass-production site.
To strengthen our teams, we welcomed 40 very talented people including many engineers joining all departments. Numerous support vacancies representing various skills (HR, accounting, communication) were also filled to assist our growth every day. Our team accounts now for more than 60 people, and many more are expected to join us before the end of this year.
We received very encouraging support from CNES, the French space agency, whose General Director Philippe Baptiste visited us recently. The French government also showed strong support to the idea of a French micro-launcher and is advocating for a more competitive and independent European Space sector.
A funding agreement to further our progress
In line with this very positive momentum, our development is getting a decisive backing as we have just closed a 10 million euros Series A funding round. This will be essential resources to all the projects and activities we must carry out as of now to pave our way to orbit.
Among our priorities is to perform ground tests of Mark 1, the first iteration of Navier. Moreover, we will be able to make major progress on the development of systems, electronics and software of Zephyr.
The whole VOS team would like to thank all the partners believing in our adventure and allowing us to move forward: Crédit Mutuel Innovation, Expansion, BPI and French Tech Seed, UI Investissement, Nicomatic, Groupe ADF and Comat as well as employees and professionals of the aerospace sector.
Venture Orbital Systems becomes Latitude
Furthermore, this positive momentum is the opportunity for our company to adopt a new name, a simpler one that embodies the benefits we will bring to our future customers: more slots and more flexibility to launch and in the end provide their payload with more latitude to reach orbit. Therefore, Venture Orbital Systems changes name and becomes Latitude.
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