WASHINGTON — German spacecraft component developer deltaVision has raised 10.2 million euros ($11.6 million) to expand production of valves and related equipment, with a focus on enabling in-space refueling.
The Munich-based company announced July 21 that it closed its first funding round, led by KT Ventures and Valemount Capital, with participation from Futury Capital and other unnamed private investors.
The funding will allow deltaVision to expand production of valves and related propulsion components to 5,000 units a year, citing strong demand and a constrained supply chain for such equipment. The 125-person company currently produces those items in a former Siemens factory in Munich and recently established a French subsidiary to develop similar components.
“We are fully committed to delivering products on an industrial scale,” said Alex Plebuch, chief executive and co-founder of deltaVision, in a statement. “It is exactly what the market demands.”
The company says it currently has more than 60 customers for its components, including major space industry primes and government agencies. Among the programs it is working on is Argonaut, a European Space Agency initiative to develop a large cargo lunar lander.
The company has plans to expand beyond producing propulsion control equipment. Its research and development roadmap sees deltaVision developing systems enabling in-orbit refueling of spacecraft through what it calls “a modular, interoperable technology stack.”
“We envision an open and interoperable in-orbit-services ecosystem rather than the winner-takes-all approach,” said Plebuch. “An interoperable ecosystem will dramatically increase the overall market size and hence benefit every single stakeholder.”
The funding round is the first for deltaVision, although the company obtained an earlier convertible loan from KT Ventures and Valemount Capital. The company said it has been profitable since its inception in 2022.
“We’re not investing in a promise; we’re investing in a profitable business model with enormous tailwinds and international growth opportunities,” Johannes Pichler of KT Ventures said in a statement.