Accion Systems Inc., a Boston, Mass.,-based startup advancing scalable electric propulsion technology to transform satellite capabilities in and beyond Earth’s orbit, raised $3m in funding.
The round was led by Boeing [NYSE: BA] via Boeing HorizonX Ventures with participation from Gettylab.
The company intends to use the funds to accelerate development of new satellite propulsion capabilities for low and medium Earth orbit and deep space.
Founded in 2014 by two Massachusetts Institute of Technology (MIT) engineers, Accion is developing a new Tiled Ionic Liquid Electrospray (TILE) in-space propulsion system aims to increase the lifespan and maneuverability of satellites and other vehicles in space by leveraging a non-toxic, ionic liquid propellant and postage stamp-size thrusters. The company is led by co-founder and CEO Natalya Bailey.