Published 15 days ago • loading... • Updated 9 days ago

Space tech start-up raises $10.5m in seed funding

Magdrive announced $10.5 million in seed funding on February 25 and plans to establish a U.S. Subsidiary in Los Angeles.
Magdrive will build a manufacturing facility in the U.K. And conduct on-orbit tests of high-power electric plasma thrusters in June.
Magdrive's technology promises advancements in satellite propulsion using metal propellant and aims for in-space manufacturing.
Mark Stokes, CEO of Magdrive, states that their propulsion system is integral for future space ventures, including asteroid mining and satellite servicing.

Insights by Ground AI

Does this summary seem wrong?

11 Articles

All

Left

Center

Right

Oxford Mail

Space tech start-up raises $10.5m in seed funding

Magdrive has raised $10.5 million through a round of seed funding.

9 days ago·Oxford, United Kingdom

Read Full Article

Space News

Magdrive raises $10.5 million and opens U.S. office

Magdrive plans to build a U.K. manufacturing facility and conduct on-orbit tests of electric plasma thrusters. The post Magdrive raises $10.5 million and opens U.S. office appeared first on SpaceNews.

15 days ago·Mojave, United States

Read Full Article

Bdaily Business News

Magdrive secures funding for space work

A space propulsion start-up has secured $10.5 million in seed funding to accelerate the development of its “next generation” work. Oxfordshire-based Magdrive, founded in 2019 by mechanical engineer Mark Stokes and plasma physicist Dr Thomas Clayson, is pioneering an electric thruster that enables spacecraft to travel further and manoeuvre with greater…

12 days ago

Read Full Article

FinSMEs

Magdrive Raises $10.5M in Seed Funding

Magdrive, a Harvell, U.K. electric propulsion startup, raised $10.5m in seed funding. Backers included redalpine, Balerion Space Ventures, Founders Fund, Alumni Ventures, 7percent Ventures, Outsized Ventures, and Entrepreneur First. The company intends to use the funds to develop its next generation plasma thrusters. Led by CEO Mark Stokes, Magdrive is developing the Rogue, a compact, […] The post Magdrive Raises $10.5M in Seed Funding appeared …

13 days ago

Read Full Article

weirdreads.com

How we raised $10.5M to help satellites navigate an increasingly crowded orbit in the age of Musk - WeirdReads

The founders of Magdrive believe their startup can help not just satellite operators, but the entire space industry. Read Moresource The post How we raised $10.5M to help satellites navigate an increasingly crowded orbit in the age of Musk appeared first on WeirdReads.

14 days ago

Read Full Article

Startups Magazine | Digital & Print Magazine For Tech Startups

Magdrive raises $10.5M seed to enable new era of sustainable space exploration

Magdrive, the startup creating the next-generation of spacecraft propulsion, has announced its $10.5 million seed funding round led by pan-European VC Redalpine.

15 days ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year