- General
- July 17, 2018
- 4 minutes read
London based Aerospace company Orbex nabs $30 million funding for its launch vehicles
image credit : Orbex U.K. based spaceflight company Orbex has now secured $30 million in funding from German VC…
U.K. based spaceflight company Orbex has now secured $30 million in funding from German VC firm High-Tech Gründerfonds and Sunstone Technology to develop its space launch vehicles which comes at the same time Orbex has been selected alongside Lockheed Martin by the U.K. Government to further its its space race with the development of a new Sutherland spaceport.
Orbex is focusing on the launch of small satellites for developers and operators and has been growing since its formation in 2015 with this selection alongside major U.S. aerospace company Lockheed Martin for the development of U.K.’s first spaceport in the region of Scotland.
Orbex stands as another addition to the global aerospace startup industry looking to provide much more simple and cheaper ways of sending objects and satellites into space, An industry currently dominated by SpaceX, Boeing, Lockheed Martin and other major aerospace companies.
The new program proposed by the United Kingdom will see Orbex receive $7.3 million from the country’s space agency with Lockheed Martin receiving a bigger $31.1 million to advance U.K’s space operations which represents a very good boost for Orbex.
Orbex’s proposed rocket will be capable of sending up to 150kg worth of payload to an orbit of 500km and is dubbed as a “low carbon” launcher being a “green” rocket which Orbex says will reduce orbital debris which has long been a goal in the space industry.
With major funding to back Orbex’s operations, We’ll get to see how Orbex would go about its operations as it aims to be a major aerospace company focused on launching “small, micro and nano satellites into accurate low Earth orbits.”
