Munich Re Ventures invests in space refuelling stations
The investment arm of insurer Munich Re has joined the seed round of US start-up Orbit Fab. The company has now raised six million US dollars.
If petrol stations are needed on Earth, why not in space in the future? With this vision, the US start-up Orbit Fab is currently on a promotional tour and, according to Techcrunch , has been able to expand its seed round. In addition to existing investors, Munich Re Ventures has now also invested, bringing the round to six million US dollars.
Munich Re Ventures is the investment arm of Munich Re, one of the largest and probably most important reinsurers in the world. The Munich-based group is itself already active in the space business, insuring satellite operators, among others, should something go wrong with their products.
With its investment in Orbit Fab, the Group is expanding its involvement in space. The start-up, which is still in its infancy, has already achieved an initial success by supplying the International Space Station (ISS) with water. In the future, it plans to refuel spacecraft in orbit.
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