Insider Brief:
- SpaceQuest Ventures invests in Kreios Space.
- Kreios Space is developing an electric satellite propulsion system that will allow satellites to orbit closer to Earth without the need for fuel.
- Kreios Space will receive support and mentorship from SpaceQuest Ventures’ bespoke accelerator program.
NEWS RELEASE — Zug, Switzerland / February 20, 2023 — SpaceQuest Ventures, a Swiss investment firm that focuses on the space domain and deeptech, has announced its latest investment in Kreios Space, a Spanish company enabling the VLEO (Very Low Earth Orbit) future of space. Founded by a team of engineers with extensive experience in aerospace engineering and space technology, Kreios Space is developing an electric propulsion system for satellites. The technology, called ABEP (Air-Breathing Electric Propulsion), will revolutionize the satellite industry by allowing satellites to orbit closer to Earth without the need for fuel.
As part of the investment, Kreios Space will receive support and mentorship from SpaceQuest Ventures’ bespoke accelerator program, which is tailored specifically to the needs of each startup. With a unique position at the intersection of a venture studio and accelerator, SpaceQuest Ventures is strategically placed to help Kreios Space bring its electric propulsion system to the market faster.
“We are excited to invest in Kreios Space and support the development of their groundbreaking electric propulsion system,” said Khaled Abou Zahr, CEO of SpaceQuest Ventures. “A difficult challenge yet their technology has the potential to transform the satellite industry, and we look forward to working with the dedicated Kreios Space team and providing them with the resources they need to grow and succeed.”
Adrian Tejedor, CEO of Kreios Space, expressed his excitement about the partnership:
“We are honored to have SpaceQuest Ventures’ support and expertise. We believe that their bespoke accelerator program and network will be instrumental in helping us achieve our goals. The investment and resources provided by SpaceQuest Ventures will allow us to accelerate the development of our ABEP technology and revolutionize the satellite propulsion industry.”
SpaceQuest Ventures’ latest investment further solidifies its commitment to supporting promising new companies in the space domain. The investment firm’s bespoke accelerator program provides startups with resources and expertise to help them thrive in the space industry. Among its initiatives is Luxembourg-based Barbicane, the first European investment syndication platform dedicated to late-stage space companies.
SOURCE: SpaceQuest Ventures
Featured image: SQV Accelerator. Credit: SpaceQuest Ventures
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