Insider Brief:
- Primo Space and CDP Venture Capital SGR reaffirm their confidence in the potential of Sidereus Space Dynamics with a collective Seed+ investment of €5.1 million.
- This capital injection aims to propel the company into the pre-flight and flight test phases preceding its experimental orbital launch campaign.
- Building on the success of its initial prototypes and tested subsystem technologies, the funds from this round will allow Sidereus to expand its team as well.
PRESS RELEASE — Italy / September 25, 2023 — Primo Space and CDP Venture Capital SGR, via the Italia Venture II – Fondo Imprese Sud fund, reaffirm their confidence in the potential of Sidereus Space Dynamics with a collective Seed+ investment of €5.1 million. Both funds had already participated in an initial round in 2021, becoming shareholders in the Italian company. This additional capital injection aims to support Sidereus’ ambitious goals, propelling the company into the pre-flight and flight test phases preceding its experimental orbital launch campaign.
Access to space remains the primary barrier to human expansion into the cosmos. Sidereus Space Dynamics is centered on developing new vehicles to make spaceflight a daily routine. The vehicle currently under construction, EOS, aims to be the smallest orbital rocket ever created – a lightweight launcher offering routine space transport capabilities for small satellites. The developing technologies, combined with a new approach focused on versatility, sustainability, and safety, will enable EOS to become an orbital platform, significantly accelerating technological advancements in the space field and its impacts on Earth by substantially reducing spaceflight durations and costs.
Building on the success of its initial prototypes and tested subsystem technologies, the funds from this round will allow Sidereus to expand its team and progress in the pre-flight and flight test phases. This crucial stage will culminate in the first experimental orbital launch, laying the foundation for EOS’s subsequent commercial flights.
The CEO, CTO, and Founder, Mattia Barbarossa, states:
“This new round marks a significant evolution for the company, transitioning from the creation of individual innovative technologies to the assembly and flight test of our vehicle EOS. It demonstrates how we can reshape spaceflight in a fraction of the time and with limited resources. The upcoming phases will undoubtedly be challenging, and with a strong team on board, from Massimiliano Masciarelli and Luca Principi to the entire engineering team, we have a robust foundation and all the necessary components to achieve our goals.”
Raffaele Mauro, Partner at Primo Space, comments:
“As the first Italian VC funds solely dedicated to the new space economy we’re pleased to back the Sidereus team as they embark on the challenging yet exciting pre-flight and flight-test phase of their research and development, taking them one step closer to the deployment of their new generation vehicle, EOS.”
Francesca Ottier, Head of Italia Venture II – Fondo Imprese Sud at CDP Venture Capital Sgr, adds:
“We are proud to be part of the growth of a globally unique and ambitious project like Sidereus Space Dynamics. We’ve supported the team since its inception, and their enthusiasm and expertise will be vital in paving the way for a new direction in the space economy.”
Another collaborator in this venture has been Lorenzo Castellano with Quantico Advisory. His financial consultancy support to the founders was instrumental in sealing the deal, in collaboration with the law firm Alma, serving as the legal advisor to the investors, represented by Partner Roberto Nigro.
SOURCE: Sidereus Space Dynamics
Featured image: Credit: Sidereus Space Dynamics
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