The €12 million funding round led by Newfund Capital, with participation from the EIC Fund, IRDI Capital Investissement, and Space Founders France (the venture arm of CNES), allowed the French company, New Space In-Orbit Services, to close its first round of funding and solidify its place as a major player in the In-Orbit Services market. The completion of this round signifies a significant validation of the company’s plan and shows faith in Infinite Orbits’ ambition.
The primary goal of this fundraising campaign is to provide Infinite Orbits with the means to expedite the construction of its flagship project, “Endurance,” a satellite designed to extend life for spacecraft. By extending the lifespan of their spacecraft, endurance will enable satellite operators to maximize their fleet management tactics and boost their return on investment.
The RPO (Rendezvous and Proximity Operations) technology of Infinite Orbits, which enables autonomous vision-based navigation and docking of assets in orbit, will run Infinite Orbits’ Endurance. RPO technology will open the door to a long-term, sustainable use of space resources and a safe space environment. With the astounding increase in satellite launches in recent years, the technology can be duplicated for a wide range of advanced in-orbit services, such as close inspection, refuelling, in-space manufacturing, and many more that have not yet come to pass.
The European Innovation Council (EIC), Bpifrance, La Région Occitanie, and other major technology collaborations provided money for the verification and validation roadmap of Infinite Orbits’ technology, which got underway in 2019. This roadmap has led to the launch of Infinite Orbits’ Orbit Guard#1 to GEO orbit on May 1st 2023, carrying the first version of Infinite Orbits technology.
We forged a significant partnership with satellite operator Intelsat to create services for its fleet, and we became the first start-up in the world to have a commercial nanosatellite in geostationary orbit last year. “The company has closed its second year of revenues and is on a strong growth path to cross the €60M figure in 2027,” says Adel Haddoud, CEO of Infinite Orbits. “The company has four major clients, including Azercosmos, Intelsat, CNES, and Hispasat. And since we’re a business, it only makes sense for us to provide new, competitive, and dependable services like Life Extension to all GEO operators.”
Salim Hassad, Investment Director at Newfund, stated, “We are delighted to partner with a company like Infinite Orbits, which perfectly embody our commitment to backing deeptech ventures with the potential to lead globally. With an outstanding founding team, strong technological basis, and attractive commercial trajectory, Infinite Orbits distinguishes out in the industry. We have no doubt that Infinite Orbits will become a future global champion in addition to dominating the in-orbit servicing industry.”
