Michigan-based Orbion Space Technology, a developer of small-sat propulsion systems, has announced it has secured USD 9.2m in Series A funding led by venture capital firm Material Impact, focused on translating early stage, innovative materials technologies into products and companies that solve real-world problems, the company said.
Other participants in the round include Invest Michigan, Invest Detroit, Wakestream Ventures, Ann Arbor SPARK, and Boomerang Catapult.
The financing comes following Orbion´s plans to manufacture and mass-produce the first Hall-effect plasma thrusters for small satellites, dubbed the Orbion Aurora system. Aurora is the highest-performing system of its kind in the world, and will deliver the accelerated access and efficiency gains that New Space operators need to drive greater ROI for smallsat missions. Also in the last year, dozens of companies and government defense agencies announced plans to build and launch thousands of new small satellites–all of which will require plasma thrusters.
Orbion Space Technology develops revolutionary propulsion systems that allow small satellites to achieve more in space environments, including the first-ever Hall-effect plasma thruster designed expressly for mass production.
Material Impact invests in building companies that transform material technologies into products that make an impact on real world problems. Material Impact is headquartered in Boston, Massachusetts.