German space tech firm ISPTech raises €5.5 million

ISPTech, a German space tech company building propulsion systems that lets spacecraft manoeuvre with speed and agility in orbit, has raised EUR 5.5 million to deploy its advanced, non-toxic propulsion solutions for operational space missions.

The round was led by Join Capital, with participation from High-Tech Gründerfonds (HTGF), Faber, First Momentum Ventures, Lightfield Equity, Final Frontier Liftoff, The German Aerospace Center (DLR), and Start-up BW Seed Fonds, among others. 

The seed funding will be used to expand manufacturing capabilities, testing of critical infrastructure and to accelerate commercial deployment, ISPTech said in a press release.

“Regular, reliable and affordable access to space via reusable rockets is possible now,” said Lukas Werling , CEO and Co-Founder, ISPTech. “However, the true in-space ecosystem will only be unlocked by mobility solutions for satellites and spacecraft. We are building the propulsion systems that will power the space ecosystem and enable the expansion of humankind into our solar system.”

“Too much space hardware looks great on paper and never proves itself where it matters, in orbit,” said Felix Lauck, CTO and co-founder of ISPTech. “Propulsion is foundational to everything that happens in space and needs to be executed without adding risk or complexity under real constraints. ISPTech is doing this today for every class of spacecraft and every mission profile.”