The French start-up Exotrail, which is part of New Space, has just succeeded in raising 54 million euros in funding. It is the third for the young company, which had raised 3.5 and 11 million euros in 2018 and 2020.
The objective is to accelerate the industrialization of its engines intended for the propulsion of small satellites and to develop internationally.
Entering the space mobility market
More and more start-ups are looking to the stars, but it is in France that we find Exotrail, created in 2015 by Polytechnique and SATT Paris-Saclay. Based in Massy and Toulouse, Exotrail has developed xenon-based propulsion methods for small satellites, supported by software called SpaceTower and SpaceStudio.
Using these, companies can design space missions, supported by thousands of simulations, but also manage and monitor their constellations. This saves valuable time, enabling aircraft to be reconfigured and anti-collision maneuvers to be automated. Enough to convince new and old investors during a series B round.
In other words, the project has already been launched, and the funds must allow the passage of a new stage and to add 70 employees to the 90 already in place. BPI France, Eurazeo and CELAD have therefore joined forces with 360 Capital, Digital Venture, Karista, Digital Ventures and even BNP Paribas and Banque Populaire to raise an additional €54 million. A new record that erases that of The Exploration Company.
” This fundraising should enable Exotrail to realize its ambition to become the leader in orbit services by developing its platform […]. The company intends to capitalize on the commercial momentum generated in 2022 by its advanced propulsion systems (spaceware) and its software products (Space Studio and Space Tower). »
Expand internationally
With nearly 70 million euros raised in 5 years, the Exotrail company aims to strengthen its production of thrusters and the development of its two software. At the same time, the idea is to create and then market new products, which will enable Exotrail to move upmarket and develop internationally. In the coming months and years, Exotrail will seek to establish itself in the American and Asian markets.
A desire for expansion driven by growth three digits » of the company and an order book which has tripled in 2022. In any case, the dynamic is definitely launched for Exotrail, which has been part of the France 2030 space program since last year with its SpaceDrop project. Announced last year, this program takes the form of a launch service nicknamed “the space bus”, the SpaceVan.
It will be able to carry 400 kg of satellites for several customers, which will save money. Very concretely, the service is presented as the ” space uber by Maxime Montès, product development manager at Exotrail. In the future, SpaceDrop should also make it possible to ensure the maintenance of satellites or their refueling. The first launch is scheduled for October with SpaceX.
Sources: The gallery / BFM Business
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