D-Orbit raises $110 million in funding to improve space logistics services

Space logistics services provider, D-Orbit has raised 100 million euros ($110 million) after closing its Series C funding round.

D-orbit revealed that it has achieved triple-digit yearly revenue growth since 2021 of over 60 million euros in contracts awarded by the European government and space agencies.

The Italian space logistics company aims to create a $1 trillion future in-orbit economy with sustainable transportation of goods and other missions.

The Series C funding is led by Murubeni Corporation, a major Japanese integrated trading and investment business conglomerate based in Tokyo. The funding is also joined by Avantgarde Pharmaceutical.

Existing investors also renewed their investment in D-Orbit in this round including CDP Venture Capital SGr, Seraphim Space Investment Trust, United Ventures, Indaco Venture Partners, Neva SG Spa, and Primo Ventures.

This funding round is likely to see more investors before it closes in the first half of 2024.

D-Orbit mentioned that the increased investment will help in the expansion of its space-logistics services such as in-orbit satellite servicing and space cloud computing. It will also help D-Orbit to expand operations in the U.S., Europe, and UK.

D-Orbit

(Source – TechCrunch)