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Exotrail raises $58m in Series B round

February 8, 2023

French space mobility company Exotrail has raised an additional $58 million (€53.9m) in a Series B cash-raising exercise.

The funds raised will help develop:
– the scale-up of Exotrail’s known products: spaceware space-proven electric propulsion systems and spacestudio mission design software;
– the introduction and growth of Exotrail’s new products: spacetower operations software and its space logistics service spacedrop and;
– the expansion of Exotrail’s international presence, with a strong focus on the US and Asian markets.

Exotrail is an end-to-end space mobility operator. The company offers customers the ability to define their space mobility needs with the spacestudio mission analysis software, meet those needs with spaceware onboard propulsion systems and spacedrop in-space mobility services, and operate their solutions with the spacetower software. This complete mobility offering called mobilityhub allows satellites to optimize their deployment, increase their service performance, and reduce space pollution. Exotrail was incorporated in 2017 and has secured over €70 million of funding. The company has more than 20 customers in North America, Europe and Asia.

The new cash comes from BPI France and via its Defense Innovation Fund, investment company Eurazeo and information systems technology investment company CELAD. The Series B cash-raising proposal was over-subscribed.

Exotrail’s CEO and cofounder Jean-Luc Maria, stated: “We are grateful for the trust and confidence all our investors vest in Exotrail. This series B round validates our comprehensive and logistics-driven approach to space mobility. We are now ready to accelerate our efforts in positioning our mobilityhub as the world reference for effectively moving assets in space. The message we are sending to all space companies wherever they are on Earth is clear: space logistics is coming, and Exotrail will be your preferred partner.”

Jean-Philippe Richard, Deputy Director of the SPI fund, and Nicolas Berdou, Investor for the Defense Innovation Fund, added: “Its technologies, its large-scale industrial project and its international ambitions as a provider of dual services in orbit to the space industry, are all strengths that have seduced us in the Exotrail project, supported since its creation by Bpifrance via the F3A fund and the Digital Venture fund. The combination of SPI and FID funds, bringing their expertise in industrialisation and management of sovereign projects, symbolises Bpifrance’s deep ambition to support the reindustrialisation of France by supporting innovative and job-creating projects in the territories such as the one carried by Exotrail.”

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