Reflex Aerospace receives seven million euros

The satellite manufacturer has thus successfully completed the first part of its seed financing round.

Already in its first round, satellite manufacturer Reflex Aerospace raised seven million euros. In the second round, the start-up aims to raise a further twelve million euros by the end of the first quarter of 2023. According to its own information, there are several firm commitments.

Current investors include the Munich-based investment fund Alpine Space Ventures, which specializes in aerospace, and High-Tech Gründerfonds (HTGF). Another investor is a family office from Bavaria that also has an affinity for aerospace; the start-up does not provide more precise details.

"With the fresh funding, we will build up initial production capacities in Munich and almost double our workforce as early as next year - to more than 50 employees across all locations," announced Walter Ballheimer, CEO of Reflex Aerospace.

Founded in 2021 and based in Berlin and Munich, the start-up aims to launch satellites tailored to individual requirements into space. In 2024, the first demonstrator is expected to fly through space. "By 2040, the global space market volume is forecast to almost triple to one trillion euros," says Christian Ziach of HTGF. Half of that growth is expected to come from satellites for broadband connectivity alone, he said. "Reflex Aerospace, with its experienced team and very strong partners, is excellently positioned to leverage this market potential."