HyImpulse raises €45M to advance ‘Made in Europe’ rocket tech
The German aerospace company will use the new capital to drive forward the development and commercialization of the SL1 orbital rocket and expand its production capacities.
HyImpulse Technologies, a German provider of hybrid propulsion systems for satellite transport, has raised €15 million in equity capital as part of its Series A funding round and secured an additional €30 million in financing.
HyImpulse will use the new capital to drive forward the development and commercialization of the SL1 orbital rocket and expand its production capacities, the company said in a press release.
Since its foundation in 2018, the German aerospace company has raised around €74 million in capital.
The latest round was led by Campus Founders Ventures. Other investors include Helantic, GIMIC, the Global Resilience Innovation Fund (GRIF), Mittelständische Beteiligungsgesellschaft (MBG) BadenWürttemberg, Start-up BW Innovation Fonds, Sparkassen-Beteiligungsgesellschaft (SBG) HeilbronnFranken, Vienna Point and BTRON, the press release said.
“Europe does not have its own access to space. With this injection of capital we will accelerate the commercialization of our orbital rocket, making Europe more independent and competitive,” said Dr. Christian Schmierer, co-founder and CEO of HyImpulse. “While providers such as SpaceX offer a scheduled bus service to space, our solutions allow us to develop a flexible taxi service so that our customers can choose individual launch solutions and flexibly plan their schedules.”
“HyImpulse has already made space history. With extremely efficient use of resources, HyImpulse is the first privately financed German space company to develop a hybrid rocket and successfully complete a suborbital test flight,” said Oliver Hanisch, CEO of Campus Founders Ventures. “The company addresses a geopolitically crucial market. HyImpulse is a role model for how start-ups can successfully translate cutting-edge research and deep tech into marketable products.
“I am pleased to see HyImpulse continuing to make progress in developing innovative and cost-efficient propulsion technologies for launch vehicles, strengthening the space sector in Germany, across Europe, and beyond,” said Prof. Dr. Rudolf F. Schwarz, Managing Director of IABG and Investor of HyImpulse.
