US Leadership Summit


Like this article?

Sign up to our free newsletter

Promus Ventures closes EUR120m space fund

Promus Ventures’ Orbital Ventures Fund has closed at EUR120 million. Anchored in Luxembourg, the Fund is focusing on early-stage, space-related companies.

The European Investment Fund committed EUR40 million, adding to the Fund’s international exposure. Other investors include international corporate, institutional, and private investors, as well as public actors. Among them is the Luxembourg Government via the Ministry of the Economy and the National Credit and Investment Institution (SNCI) which have invested in the Fund, reaffirming the country’s leading position on the international space stage.
Orbital Ventures has invested in several companies providing solutions to the challenges facing the space sector and will continue to target early-stage businesses across the world.
Promus Ventures, located in Chicago, San Francisco, and Luxembourg, is managing the Orbital Ventures fund. The deep-tech venture capital company has a strong track record investing in successful geospatial companies, including industry leaders such as Rocket Lab (Nasdaq: RKLB), Spire (NYSE: SPIR), ICEYE, Mapbox, Swift Navigation, and others.
Since its first close in January 2020, the Fund has invested in several companies, including:

Isotropic Systems (UK), producing the world’s first multi-beam, high bandwidth satellite terminals which support the growth of the satellite industry

Ellipsis Drive (NL), building a data platform that shares geospatial information

Fernride (DE), technology-as-a-service provider of remotely operated and fully automated driverless logistics

Akasha Imaging (US), leveraging imaging and deep learning to create computer vision systems that enable manufacturing robots to see better

Recycleye (UK), using artificial intelligence and robots to automate and accelerate the waste management process

Wakeo (FR), addressing international supply chain disruptions with multimodal real-time visibility, advanced analytics, and environmental emissions tracking
The Fund targets early-stage investment opportunities across a broad spectrum of areas such as:

Space-based telecommunications networks and services

Geospatial location-based services and applications

Space-related technologies and innovation (robotics, sensors, data)

Earth observation and environmental monitoring

Transportation and logistics – efficiency and safety
Space resource utilisation and exploration
Pierre Festal, Partner at Promus Ventures, says: “We continue to witness terrific growth and developments in the New Space industry, and we are excited to deploy this new sector-specific space fund. We are thankful to our investors for their trust and support in this endeavour. Since 2014, we have had a strong track record investing in successful space start-ups, including industry leaders such as Rocket Lab, Spire, ICEYE and others. It’s a pivotal time for global space players and the outlook is strong.”
Franz Fayot, Minister of the Economy of Luxembourg, says: “Encouraging innovation and entrepreneurship through funding is one of the pillars of Luxembourg’s space strategy. By investing directly into promising space tech ventures, the Orbital Ventures fund is an excellent example of a dedicated funding tool to support the development of the commercial space industry.”

Like this article? Sign up to our free newsletter




Talk to Us

What would you like to talk with us about? *