Morpheus Space gets $28 million
The space start-up has thus successfully completed its Series A financing round. The money will go towards a new factory in Dresden.
The Dresden-based start-up Morpheus Space has successfully completed its Series A financing round. The start-up was able to raise a total of 28 million US dollars from investors including Alpine Space Ventures, Vsquared Ventures, Airbus Ventures and Techstars Ventures. This was reported by Techcrunch.
According to the report, the start-up intends to invest the money primarily in a factory in Dresden, where it wants to build electric satellite drives. To this end, the workforce is to be increased. Morpheus Space plans to have a total of 100 employees by the end of next year, split between the locations in Dresden and Los Angeles.
The start-up wants to produce an electric propulsion system for small satellites. Its aim is to benefit from the current boom in the space and satellite industry. It was founded in 2018 as a spin-off from the Technische Universität (TU) Dresden.
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