Dcubed's Series A is led by the French-Swedish fund Expansion and BayBG as lead investors. European co-investors include existing investor High-Tech Gründerfonds and Rymdkapital from Sweden. Ventis Capital, Decisive Point Europe, and the American deep-tech fund Aurelia Foundry are also contributing to the financing round. According to SZ information 4.4 million euros into Dcubed’s coffers.
The new funds will the Munich startup will now use this to expand its production. This includes the production of satellite solar modules in a foldable origami design and a planned quadrupling of actuator production by the end of 2024. This technology is a crucial mechanism in satellites of all sizes, serving to securely hold components in place during launch and reliably release them after launch in space. Dcubed also plans to launch its own online shop for space products to make ordering easier for customers. Furthermore, Dcubed also plans to invest in in-space manufacturing (ISM).
Dcubed is also opening a US office in Westminster, Colorado, a key new space hub with a high concentration of space companies, research institutions, and skilled workers. Dcubed's US office is located in the Advanced Space building. This allows the Munich-based company to directly benefit from the US space company's network and proximity to customers. Currently, US companies account for more than half of Dcubed's customer base, according to the company.
“Dcubed has all the necessary prerequisites”
Thomas Sinn, CEO of Dcubed, explains:
"Despite a challenging global financial environment, investors significantly oversubscribed our Series A round. This financing round demonstrates the market's high level of confidence in our capabilities. Together with our global investors, we now have a solid foundation to drive future growth in the booming space market. With the new financing, we will quadruple production of our current product. At the same time, we are striving for the 'next big thing' in space by taking a pioneering role in the field of manufacturing in space. With the opening of our US office, we are tapping into the world's most dynamic space ecosystem to further expand our global presence and develop space innovations for the years to come."
Ted Elvhage, General Partner at Expansion Aerospace Ventures, adds:
"Space is one of the fastest-growing markets. The market volume is expected to quadruple from approximately $500 billion to $2 trillion within just ten years. Dcubed has all the necessary prerequisites to jump onto this steep growth curve: The company combines high-quality German engineering with a strong global business. It combines a space-proven product in the emerging satellite business with a leading position in the future market of space manufacturing."
And Alois Ganter, Investment Manager at BayBG Venture Capital, says:
"Having funded over 100 companies over the past 20 years, Dcubed is BayBG Venture Capital's first new space investment. Our decision reflects the pivotal role that space technologies play on Earth in everything from connectivity and mobility to security and sovereignty. And the strong position Dcubed has built by financing its growth to date entirely through customer contracts."
