Orbex receives government boost with £20m investment
Deal News | Jan 30, 2025 | Business Cloud
Orbex, the sole UK-owned orbital launch services company, has secured a £20m investment from the UK government as part of its Series D fundraising round. This landmark investment marks the first direct support from the UK government to enhance the country's satellite launch capabilities, indicating strong support for the burgeoning UK space industry. The funds are targeted towards Orbex's development of small and medium-sized rockets, with launches planned from SaxaVord Spaceport in Shetland. The investment also aims to position the UK as a leader in the European small satellite launch market, fostering growth and high-skilled job creation. Alongside the UK government, the Export & Investment Fund of Denmark, Octopus Ventures, and private investor Sohaib Abbasi have also contributed to the Series D round, which currently stands at £23m. This funding will accelerate the development of Orbex's Prime rocket, which is set for its first launch by late 2025.
Sectors
- Aerospace and Defense
- Government and Public Sector
- Venture Capital
Geography
- United Kingdom – Orbex is a UK-based company, and the investment by the UK government highlights the geographical focus on enhancing domestic satellite launch capabilities.
- Denmark – The Export & Investment Fund of Denmark is one of the investors in the Series D funding round, indicating international interest and involvement.
Industry
- Aerospace and Defense – The aerospace sector is involved due to Orbex's development of rocket technology for launching satellites.
- Government and Public Sector – The UK government's investment is central to the article and indicates public sector involvement in developing the UK's space industry.
- Venture Capital – The Series D fundraising round involves venture capital investments, demonstrating the importance of financial backing in space technology ventures.
Financials
- £20 million – The investment amount provided by the UK government as part of Orbex's Series D fundraising.
- £23 million – The current total amount raised in Orbex's Series D fundraising round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Orbex | Target Company | Company | A UK-based orbital launch services company developing small and medium-sized rockets. |
| UK Government | Investor | Government | Provided a £20m investment as part of Orbex's Series D fundraising round. |
| Export & Investment Fund of Denmark (EIFO) | Investor | Company | A Danish fund contributing to the Series D investment round for Orbex. |
| Octopus Ventures | Investor | Company | A venture capital firm that is part of the Series D fundraising round for Orbex. |
| Sohaib Abbasi | Investor | Person | A private investor contributing to the Series D investment round for Orbex. |