Deep Space Industries (DSI), a leading space technology company, announced today the closing of the first tranche of its Series A funding round. The company raised just over $3.5M from private investors. The funding will be used to develop MeteorTM, the company’s new launch-safe bipropellant rocket engine, and continue the ongoing development of the XplorerTM spacecraft, the company’s deep space exploration platform scheduled for launch in 2020.
“Deep Space Industries has rapidly developed a leadership position in the space technology market”, said Eric Uhrhane, one of several private investors in this round. “The propulsion and spacecraft technologies this team have developed over the last few years will dramatically lower the cost of access to deep space, and I’m excited to be a part of that.”
The company recently announced two significant contracts for its water-based CometTM propulsion systems for small satellites, and plans to release MeteorTM, its second-generation propulsion system, later in 2018.
“With the growing interest in our green propulsion systems, this funding round ensures that we’ll be able to meet customer demand, while also moving forward with our more advanced systems and spacecraft,” said Bill Miller, chief executive of DSI. “Our continued investor support is appreciated as we work to lower the cost of high performance missions in Earth orbit, and beyond.”
Deep Space Industries plans to launch the first private deep space mission in 2020, using its Xplorer spacecraft. This funding round allows the company to accelerate the development of this compact, affordable, and versatile exploration spacecraft that can be used for a wide range of scientific and commercial missions in Earth orbit, and throughout the inner solar system.
About Deep Space Industries
Deep Space Industries (DSI) is a Silicon Valley-based space technology company dedicated to making space resources available to fuel humankind’s expansion into space. DSI is developing a suite of technologies intended to dramatically lower the cost of undertaking high-performance missions in both Earth orbit and deep space. Its first commercial offerings have been low-cost, launch-safe propulsion systems, which are a key missing piece for a wide range of low-cost missions. DSI is headquartered in San Jose, California, with offices in Florida and Luxembourg. For more information, visit: www.DeepSpaceIndustries.com
News from Deep Space:
Deep Space Industries (DSI) announced today that it has signed a contract to provide its Comet water-based satellite propulsion systems for the BlackSky Earth observation constellation of smallsats. DSI will provide an initial block of 20 water thrusters for the BlackSky satellites which are scheduled to start launching later this year.Read More…
Deep Space Industries announced today that it has signed a contract with Astro Digital to provide several Comet water-based satellite propulsion systems. Comet is a simple, launch-safe, and cost-effective electrothermal propulsion system that uses water as a propellant and can be customized for nearly any small satellite application.Read More…
Deep Space Industries is pleased to announce that Doug Jones, formerly chief test engineer at XCOR, is joining the company’s growing team as director of propulsion systems. “We see Doug as one of the top rocket engineers in the country, and a great addition to our first-class team of small-spacecraft engineers,” said Bill Miller, the chief executive officer of Deep Space Industries. Read More…