HyPrSpace raises €1.1 million in seed funding to develop its reusable hybrid micro-launch vehicle
HyPrSpace, a startup specializing in the design of space launchers, has announced that it has raised €1.1 million from the Geodesic fund, the French Tech Seed fund managed on behalf of the French government by Bpifrance as part of France 2030, and private investors. This funding will allow the startup to strengthen its teams to accelerate the development of its OB-1 reusable launcher, and to offer a fast, economical, sovereign and more environmentally friendly orbiting service!
Founded in 2019 by Alexandre Mangeot, Sylvain Bataillard and Vincent Rocher, HyPrSpace aims to develop a launcher using a propulsion technology that facilitates access to space: Hybrid propulsion. This technology is reliable, inexpensive and has a lower carbon footprint, but until now it has suffered from a technological lock-in that makes the engines unusable for launch applications.
HyPrSpace is developing an innovative, patented architecture that removes the hybrid propulsion lock. This technological breakthrough makes it usable for launchers, which then benefit from the simplicity and reliability of these engines, thus lowering launch costs and access to space. OB-1 is a reusable rocket using hybrid propulsion, which halves the cost of access to space, while reducing the carbon impact of the space industry.
Thanks to this fundraising with Geodesic (future Expansion Ventures), the BPI, and other private investors, the startup aims to strengthen its workforce to continue the development of its micro-launch vehicle.
The propulsion is a hybridization between solid and liquid propulsion, which are propulsion technologies inherited from the Cold War and which are still used on conventional rockets, for lack of anything better.
The objective of this patented technological innovation is to provide a hybrid engine that benefits from the advantages of solid and liquid propulsion without their drawbacks. It will enable HyPrSpace to offer the rapidly expanding microsatellite market simplified access to space at low cost and with reduced environmental impact.
"The technological breakthrough developed by HyPrSpace and its launch capacity are key to the development of the space industry. HyPrSpace is part of Geodesic's core investment target" - Charles Beigbeder, CEO of Geodesic
"This fundraising is the first step towards a micro-launch vehicle that will reduce the cost of access to space, at a time when this need is more vital than ever for France and Europe.” - Sylvain Bataillard, Managing Director of HyPrSpace