Insider Brief:
- Singapore-based rocket propulsion and launcher company Equatorial Space has raised $1.5 million in pre-Series A funding.
- The new funding will help the company develop its Dorado-sounding rockets and build a static firing test facility in Hidden Valley, Northern Territory.
- The company plans to start orbital launch services by 2026.
Equatorial Space, a rocket propulsion and launcher company based in Singapore, has raised $1.5 million in pre-Series A funding. Farquhar Venture Capital led the round, with participation from Paspalis.
Founded in 2017, Equatorial Space operates with backing from Techstars and runs subsidiaries in the U.S. and Australia. The new funding will reportedly help the company develop its Dorado-sounding rockets and build a static firing test facility in Hidden Valley, Northern Territory.
In 2020, Equatorial Space became the first Southeast Asian company to test launch a commercially developed rocket prototype. The company plans to start orbital launch services by 2026.
Jason Su, Chief Investment Officer at Farquhar, praised Equatorial Space’s progress. “We are impressed by their dramatic progress over the years and bullish on their future in the global space tech ecosystem,” he said. Su looks forward to the company’s key test flights later this year.
Harley Paroulakis, CEO of Paspalis Corporation, expressed confidence in Singapore’s space tech talent. “We believe that the synergies across both our ecosystems will enable Equatorial Space to become a market leader in space launch very soon,” he stated.
Simon Gwozdz, Founder and CEO of Equatorial Space, highlighted the significance of the new test facility. “We are excited to be working with the great community in Darwin on delivering transformative propulsion and launch products to the growing space industry internationally,” he said.
Image credit: Equatorial Space
