The London Technology team advised BGF and Octopus Ventures on their participation in Orbital Express Launch Limited’s (“Orbex”) $24 million Series B funding round. Existing investors include High-Tech Gründerfonds, Heartcore Capital, and Elecnor S.A. The new investments secure the roadmap to the first launch from the Space Hub Sutherland spaceport in Scotland. Orbex has already confirmed six commercial satellite launch contracts, with the first launches expected in 2022. The company’s preferred launch site will be the Sutherland spaceport on the northernmost coast of Scotland, which was granted planning permission in mid-August 2020.
BGF is the UK’s most active investment company providing growth capital for small and medium-sized enterprises in the UK and Ireland.
Octopus Ventures is one of Europe's largest and most active venture capital firms investing in startups in the areas of health, money, deep tech, and consumer.
For more details, read the press release.