(L-R) Equatorial Space Founder and CEO Simon Gwozdz and CTO Jamie Anderson
Singaporean rocket company Equatorial Space secures US$1.5M funding led by Elev8.VC
Singapore-based rocket company Equatorial Space Systems has raised US$1.5 million in a seed round led by Elev8.VC.
SEEDS Capital, the investment arm of Enterprise Singapore, and Masik Enterprises, also joined.
Equatorial Space is a rocket propulsion and space launch startup focused on enabling space access at greatly reduced risk, cost and environmental impact compared to incumbent solutions.
Besides its headquarters and principal R&D facility in Singapore, the company has a presence in the US and Australia.
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The funding will be used to develop Equatorial Space Systems’s Dorado commercial-sounding rocket family. It will provide low-cost space access for science experiments, technology demonstrators and academic payloads.
The Dorado will be propelled by a hybrid rocket motor using a combination of chilled Nitrous Oxide (cNOX), and a proprietary, patent-pending solid fuel formulation known as HRF-1AL, which delivers a high regression rate, high density and flight-proven structural integrity. The propellant combination is also non-toxic and low in greenhouse gas emissions. The first launches are slated for mid-2024.
“Equatorial Space Systems’s breakthrough in rocket propulsion holds the potential to lower barriers related to safety, cost, and sustainability that have traditionally impeded the adoption of space technologies. These advances will play an important role in developing other space technologies in Singapore and add to the vibrancy of Singapore’s innovation ecosystem,” said Tan Kaixin, General Manager of SEEDS Capital.
Elev8.VC is a Singapore early-stage VC fund investing early in technologies of the future and founders that create emergent industries with a global impact.
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