And we are three. After Aiko and Leaf Space, Pangea Aerospace, a startup based in Barcelona and operating in the micro sector, is now added to the list of innovative companies entering the portfolio of Primo Space Fund, the venture capital fund of the Primo Ventures galaxy (Primomiglio Sgr). – launchers for small satellites with an “aerospike” rocket engine and a proprietary recovery system.
The investment of the Italian fund, the first made abroad and amounting to 300 thousand euros, is part of a round – led by the Spanish VC Inveready with the participation of CDTI Innvierte (Spanish National Innovation Agency), Dozen Investments and E2MC – for a total of three million, which brings the startup’s total funding to exceed 6 million. The new liquidity injection, as stated in a note released by Primo Ventures, will be used to produce and test several prototypes of 20 kN (two ton) engines and accelerate the time to market of a new propulsion technology that uses printing systems. 3D for metals and “green” propellants such as oxygen and liquid methane. The aerospike engine test, scheduled for Q3 2021, will primarily serve to validate its manufacturability and regenerative cooling system.
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