Team Blitz India
UK-BASED small launch developer Orbex received £16.7m from the Scottish National Investment Bank and other investors as it prepares for its inaugural orbital launch, though a specific date for this mission is still pending.
Orbex CEO Phillip Chambers emphasised the optimistic market conditions for their product, noting the exponential growth in satellite launches to low Earth orbit (LEO) and the substantial demand for launch services, particularly in Europe. Chambers highlighted the need for sovereign launch capabilities and emphasised Orbex’s commitment to providing European customers with autonomy over their launches and the ability to launch European payloads from European soil.
“Orbex is one of only two space rocket manufacturers in the UK, and the only one to also operate its own spaceport. Our technology is pivotal in making the UK a hub for European orbital launch, and we are entering a critical phase of development”, Chambers said in a press release.
Established in 2015, Orbex is among a select group of companies racing to develop the next generation of European launch vehicles. These ventures aim to address the significant gap left by the retirement of the Ariane 5 and substantial delays to the Ariane 6 and Vega C rockets, resulting in virtually no indigenous launch capacity in Europe.
However, this void presents an opportunity for Orbex. The company is advancing a microlauncher named Prime, a two-stage vehicle standing at a modest 19 meters tall, engineered to transport payloads up to 180 kilograms. While slightly shorter than Rocket Lab’s Electron, which can accommodate up to 300 kilograms, Prime’s compact design is perceived by Orbex as an advantage rather than a limitation.
Orbex recently initiated its Series D funding round, securing £16.7 million ($20.7 million) in fresh capital from investors including Octopus Ventures, BGF, Heartcore, EIFO, and others. This funding infusion, following a £40.4 million ($50 million) Series C round in October 2022, will facilitate Orbex’s development efforts for Prime, ensuring readiness and scalability for its launch operations, though a definitive launch window is yet to be announced.
