Kreios Space, the Very Low Earth Orbit satellite company, closes a Pre-Seed round of €2.3M - Capital-Riesgo.es
Summary
Kreios Space, a pioneering company in electric propulsion technologies for satellites, announces the closure of its Pre-Seed funding round, reaching a total of 2.3 million euros in private and public capital. The funds will be primarily used for laboratory testing of the technology, construction of new facilities, and the expansion of their team, enabling the company to accelerate its mission to revolutionise the space sector.Founded in 2021 by Adri\xe1n Senar, Jan Matar\xf3, Francisco Boira, Adri\xe0 Barcel\xf3, Max Amer, and Francisco Bosch, six aerospace engineers who met at university, Kreios Space is dedicated to developing the ABEP thruster for satellites. Having the support of the experienced funds that participated in this round fills us with pride, and it is also an indicator that we are on the right track," points out Adri\xe1n Senar, CEO of Kreios Space. These facilities, already under construction, will be located in the free economic zone of Vigo, supported and co-financed by the Instituto Galego de Promoci\xf3n Econ\xf3mica (IGAPE). It will allow to test and certify all types of satellite technologies and will also be available for third-party use.Finally, the third objective is to expand the team with key talent in engineering, research, and operations, to continue positioning the company as a global reference in VLEO and to prepare the commercial ground for the technology launch.With the capital raised in this funding round, Kreios Space is closer to being the first company in the world to enable Very Low Earth Orbits (VLEO), with all the strategic implications that entails.Grow Venture Partners is a Venture Capital fund specialising in technology transfer that invests in early-stage companies originating from universities and research centers, primarily in the Deep Tech, MedTech, and Sustainability sectors.
Funding
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