Morpheus Space closed its first funding round, led by Vsquared Ventures and joined by Lavrock Ventures, Airbus Ventures, In-Q-Tel, Pallas Ventures and Techstars.
This concludes a momentous summer in which a Morpheus Space nanothruster performed an on-orbit maneuver that successfully avoided a potential collision of satellites and scattering of harmful debris.
The company’s first propulsion system, NanoFEEP, secured space qualification in 2019. In July of 2020 the UWE-4 satellite, a 1 kg smallsat from the University of Würzburg successfully avoided a collision with an out-of-service Iridium satellite by using its NanoFEEP thrusters – an event that could have developed into an environmental disaster.
Morpheus Space offers the smallest and most efficient satellite propulsion systems that provide in-orbit mobility for the widest range of satellite sizes. The team, the vision, and the product line have convinced industry leaders to join the company to accelerate the widespread implementation of Morpheus Space’s technologies.
Daniel Bock, CEO and Co-founder of Morpheus Space commented, “We are more than thrilled to close our funding round with an incredibly strong syndicate, especially in these difficult times. I believe such times bear enormous potential for disruption and we are excited to herald the second phase of the NewSpace revolution with Morpheus Space. I am also proud to announce that our fast-growing team is enriched by Richard V. Spencer as a new member on our Board of Directors. This is just the beginning to what I’m sure will be an exhilarating journey for us and the entire space industry.”
“Morpheus Space takes a key role within the rapidly emerging NewSpace economy. Its electric propulsion system is a game changer that enables many existing space applications and opens entirely new business opportunities ranging from ultra-low Earth orbits to deep space exploration. The USA being the driving force behind new space business is crucial to bringing deep-tech concepts to markets and life. As Germany’s leading new space investor, we are therefore proud to join forces early on with strong US partners,” said Herbert Mangesius, Founding Partner at Vsquared Ventures (lead investor)
István Lőrincz, President & Co-founder of Morpheus Space, added, “With this newly gained momentum, we will increase our production capacity, upgrade our propulsion systems with an autopilot and various other software services that will enable the safe autonomous operation of satellites.”