Reflex Aerospace receives seven million euros

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

The satellite manufacturer Reflex Aerospace already raised seven million euros in its first round. 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 the company, several firm commitments have been made.

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 with an affinity for aerospace, although the start-up does not provide any further details.

"We will use the fresh funding to build up our first production capacities in Munich and almost double our workforce in the coming year - to over 50 employees across all locations," announces Walter Ballheimer, CEO of Reflex Aerospace.

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