Morpheus Space gets $28 million
Nils Wischmeyer
| 15.09.2022
The space start-up thus successfully closes its Series A financing round. The money is to flow into a new factory in Dresden.
Dresden-based start-up Morpheus Space has successfully closed its Series A financing round. The startup raised a total of $28 million from investors including Alpine Space Ventures, Vsquared Ventures, Airbus Ventures and Techstars Ventures. Techcrunch reports.
According to the report, the startup plans to put the money primarily into a factory in Dresden, Germany, where it plans to build electric satellite propulsion systems. To do so, it plans to increase its staff. Morpheus Space plans to have a total of 100 employees by the end of next year, split between its sites in Dresden and Los Angeles.
The start-up wants to produce an electric propulsion system for small satellites. In doing so, it hopes to benefit from the current boom in the space and satellite industry. It was founded in 2018, at the time as a spin-off of the Technical University (TU) of Dresden.
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Startup
2018
Dresden
Morpheus Space
Spacecraft electric propulsion systems that allows satellite to perform orbital maneuvers.
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