Exotrail, a greater Paris and Toulouse, France-based startup company developing their proprietary electric thruster technology for small satellites as well as plug-in software for the operation of satellites equipped with propulsion, raised $4.1m (€3.5m) in funding.
The round was led by 360 Capital Partners, through its Fonds Robolution, with participation from Irdi Soridec Gestion via the IRIDnov 2 Fund, Bpifrance via Amorçage Ambition Angel (F3A) Fund, SATT Paris-Saclay (through an authorized conversion of claims process), and various business angels.
The fundraising was completed through a public financing offer.
The company intends to use the funds:
– to demonstrate its prototype thruster in space,
– to finalize product & service offerings,
– to deliver the first functional propulsion systems to the founding clients (integrators and operators of constellations of small satellites) who have already committed their interest for Exotrails propulsion systems,
– to accelerate the design of software tools to operate and optimize space missions, currently under
– to expand the team from six people to more than 16 at the end of the calendar year.
Established in 2015 by Jean-Luc Maria, Paul Lascombes, David Henri and Nicolas Heitz, Exotrail offers small satellite propulsion solutions, software and operational management. The company is developing two proprietary propulsion systems, namely, ExoMG–nano for satellites of between 10-20kg, and ExoMG-micro for satellites up to 100kg.