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Biz Briefs: Raises by The Exploration Company, Atomos Space, Orbital Sidekick, Virgin Orbit & Sidus Space

By Doug Messier
Parabolic Arc
February 3, 2023
Filed under
Biz Briefs: Raises by The Exploration Company, Atomos Space, Orbital Sidekick, Virgin Orbit & Sidus Space
Nyx reusable space capsule (Credit: The Exploration Company)

Companies have raised funding for a reusable spacecraft, a space tug, satellites-as-a-service, hyperspectral imaging spacecraft, and to help keep the lights on.

The Exploration Company

The Exploration Company has raised a €40 million (US $43.68 million) Series A round to advance the company’s plans to develop its Nyx reusable space capsule capable of carrying experiments into orbit and resupplying space stations.

The round was led by EQT Ventures and Red River West with participation from both new and existing investors Promos Ventures, Cherry Ventures, Vsquared, Omnes Capital, duly Fund, Partech, Habert Dassault Finance, Schlumberger, WMA, Possible Ventures, Rymdkapital and Sista Fund.

The new funding will allow the company to test launch a Nyx demonstrator in 2024 and prepare for the launch of a full-scale capsule in 2026. Nyx would deliver cargo to commercial space stations and allow researchers, manufacturers and other parties to fly payloads on Earth orbit missions.

Nyx is being designed to launch 4,000 kg (8,818 lb) into low Earth orbit for up to six months at a cost of €20,000 (US $21,810) per kilogram or US $9,914 per pound.

The Exploration Company has facilities in Munich, Germany and Bordeaux, France.

Atomos Space Raises $16.2 Million

Denver-based Atomos Space has closed a $16.2 million Series A investment round to conduct a demonstration mission of an orbital transfer vehicle (OTV) that can deploy and reposition satellites in space.

Atomos says its “space-resident” OTVs will provide launch dispersion trimming, orbit raising, phasing, LTAN/RAAN modification, and inclination change services. The vehicles will have ammonia-based propulsion paired with lightweight power systems.

Orbital Sidekick Raises $10 Million

Hyperspectral imaging company Orbital Sidekick has raised a $10 million investment round to provide high-accuracy monitoring services to the oil and gas industry.

The round was led by Energy Innovation Capital with the participation the Williams and ONEOK energy company. The CIA’s strategic investment arm In-Q-Tel, University of Minnesota’s Endowment and existing investors 11.2 Capital and Syndicate 708 also participated.

Cosmic Girl in flight. (Credit: Virgin Orbit)

Virgin Orbit Receives $10 Million

Launch provider Virgin Orbit received an additional $10 million loan from Virgin Investments Ltd (VIL). This raises the amount VIL has pumped into Virgin Orbit over the past three months to $55 million as the company had dealt with growing losses, a low launch cadence and the failure of a flight last month.

The agreement gives VIL “first-priority interest on substantially all of their respective assets, including all aircrafts, aircraft engines (including spare aircraft parts) and related assets” in the event Virgin Orbit defaults on the three loans provided.

You can read more here.

Sidus Space Raises $5.2 Million

Sidus Space (NAS: SIDU) closed a public offering of 17.25 million shares of Class A common stock at a price of $0.30 per share. The gross proceeds were $5.2 million before underwriting discounts, commissions and other offering expenses.

Sidus Space will use the proceeds for sales and marketing, operational costs, product development, manufacturing expansion and the remaining proceeds for working capital and other general corporate purposes.

Sidus Space provides Space-As-a-Service offerings that include space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support, data analytics and satellite constellation management.