Accion Systems, a Boston, MA-based manufacturer of advanced ion electrospray in-space propulsion systems, raised $42m in Series C funding.
The round, which brought Accion Systems’ valuation to $83.5m, was led by an affiliate of Tracker Capital Management.
The company intends to use the funds to accelerate the development of its propulsion system and scale up its manufacturing to meet the demand for in-space propulsion.
Founded in 2014 by MIT engineers Dr. Natalya Bailey and Louis Perna and led by CEO Peter Kant, Accion Systems develops in-space propulsion technologies optimized for scalability, performance, and efficiency. Its flagship product, TILE, uses proprietary electrospray thrusters to bring electric propulsion to satellites of all sizes.
TILE is an efficient, low-SWaP (size, weight, and power) electrospray propulsion system for the space industry, which combines an inert liquid propellant with a simple mechanical design to create a propulsion system that is low-cost, compact, and easy to manufacture.
This investment will enable the company to develop the next generation TILE system and strengthen the supply chain and at-scale manufacturing of these MEMS systems. Accion Systems will be launching four TILE systems in 2021 and two more in early 2022.