Pangea Aerospace Raises €23 Million in Series A Funding Round
Summary
With this funding, Pangea will accelerate its expansion in the European market, aiming to grow its private and institutional customer base. In addition, Pangea is collaborating with ESA and a consortium of companies to design, manufacture, and validate key technologies for the next generation of large European rocket enginestwo strategic contracts that reinforce Pangeas position as a leading European propulsion provider.This investment will enhance Pangeas manufacturing, integration, and testing capabilities, advancing the development of strategic technologies to reinforce national and European aerospace sovereignty at a time of growing global competition.Currently, an average of four to five satellites are launched into space daily, with more than 10,000 satellites already in orbit. It follows a business model similar to Rolls-Royce in the aviation industry, which has already been validated with multiple private clients.The companys competitive advantage lies in its proprietary technologies, which enable more efficient and cost-effective propulsion systems, allowing clients to maximize launch performance while reducing development time and costs. It expects to double its revenue by 2025, with a pipeline of identified opportunities nearing 120 million.Pangeas founding team consists of aerospace and business experts: Adri\xe0 Argem\xed, Xavier Llair\xf3, Luis Bellafont, Nicola Palumbo, Federico Rossi, and Rasmus Bergstr\xf6m. After evaluating 220 companies, Hyperion is currently in negotiations with top firms from NATO countries, leading advancements in artificial intelligence, robotics, geolocation, photonics, electromagnetics, and aeronautics.