HyPrSpace Raises €1.1M in Seed Funding to Develop Reusable Hybrid Micro-Launch Vehicle
HyPrSpace, a startup specializing in the design of space launchers, has announced that it has raised €1.1 million from the Geodesic fund, the French Tech Seed fund managed on behalf of the French government by Bpifrance as part of France 2030, and private investors. This funding will allow the startup to strengthen its teams to accelerate the development of its OB-1 reusable launcher, and to offer a fast, economical, sovereign and more environmentally friendly orbiting service!
Founded in 2019 by Alexandre Mangeot, Sylvain Bataillard and Vincent Rocher, HyPrSpace aims to develop a launcher using a propulsion technology that facilitates access to space: Hybrid propulsion. This technology is reliable, inexpensive and has a lower carbon footprint, but until now it has suffered from a technological lock-in that makes the engines unusable for launch applications.
HyPrSpace is developing an innovative, patented architecture that removes the hybrid propulsion lock. This technological breakthrough makes it usable for launchers, which then benefit from the simplicity and reliability of these engines, thus lowering launch costs and access to space. OB-1 is a reusable rocket using hybrid propulsion, which halves the cost of access to space, while reducing the carbon impact of the space industry.
Thanks to this fundraising with Geodesic (future Expansion Ventures), the BPI, and other private investors, the startup aims to strengthen its workforce to continue the development of its micro-launch vehicle.
The propulsion is a hybridization between solid and liquid propulsion, which are propulsion technologies inherited from the Cold War and which are still used on conventional rockets, for lack of anything better.
The objective of this patented technological innovation is to provide a hybrid engine that benefits from the advantages of solid and liquid propulsion without their drawbacks. It will enable HyPrSpace to offer the rapidly expanding microsatellite market simplified access to space at low cost and with reduced environmental impact.
“The technological breakthrough developed by HyPrSpace and its launch capacity are key to the development of the space industry. HyPrSpace is part of Geodesic’s core investment target” – Charles Beigbeder, CEO of Geodesic
“This fundraising is the first step towards a micro-launch vehicle that will reduce the cost of access to space, at a time when this need is more vital than ever for France and Europe.” – Sylvain Bataillard, Managing Director of HyPrSpace
About HyPrSpace
Founded in 2019 by several engineers with a passion for space, HyPrSpace is a company developing a micro-launch vehicle capable of bringing 250kg of payload into orbit. It uses a hybrid propulsion method that mixes solid and liquid reactants, allowing for a simple and reliable engine. The innovation developed by HyPrSpace has been appraised by the Direction Générale de l’Armement and ONERA. HyPrSpace is already financially supported by the CNES, the French space agency, ESA through ESA BIC, the DGA and the Nouvelle-Aquitaine region.
It’s also a member of Aerospace Valley.
About de Geodesic
Geodesic, an investment vehicle for New Space start-ups created in 2021 by Charles Beigbeder, announced on April 13 the co-founding with the Starburst gas pedal of the Expansion fund, with a target size of €300 million, with the aim of becoming the leading European fund for financing Aerospace & Defence start-ups.
About Bpifrance and French Tech Seed fund
Bpifrance finances companies – at every stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation and international projects. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer to entrepreneurs.
Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, single and efficient contact to help them face their challenges. More information on: www.Bpifrance.fr
The €500 million French Tech Seed Fund aims to support the fundraising of innovative start-ups and VSEs under 3 years of age with technology-intensive innovations. The fund, which was created by France 2030 and is operated by Bpifrance, relies on accredited business introducers to identify and qualify these start-ups and put them in touch with private investors. These business introducers, who guarantee the technological validity of the project, will enable public investment in the form of Convertible Bonds of up to 400 million euros, in addition to the capital provided by private investors. An additional €100 million will be dedicated to equity investments in addition to the conversion of the Convertible Bonds.
About France 2030
– The France 2030 investment plan : It reflects a dual ambition: to transform key sectors of our economy (energy, automotive, aeronautics and space) on a long-term basis through technological innovation, and to position France not just as a player, but as a leader in the world of tomorrow. From basic research, to the emergence of an idea, to the production of a new product or service, France 2030 supports the entire life cycle of innovation up to its industrialization.
It is unprecedented in its scope: €54 billion will be invested so that our companies, universities and research organizations can successfully make the transition in these strategic sectors. The challenge is to enable them to respond competitively to the ecological and attractiveness challenges of the coming world, and to create the future leaders of our fields of excellence. France 2030 is defined by two cross-cutting objectives: to devote 50% of its spending to decarbonizing the economy, and 50% to emerging, innovative players, without spending that is unfavorable to the environment (in the sense of the Do No Significant Harm principle).
Will be implemented collectively: designed and deployed in consultation with economic, academic, local and European players to determine the strategic directions and key actions. Project leaders are invited to submit their applications via open, demanding and selective procedures in order to benefit from the State’s support.
The program is managed by the General Secretariat for Investment on behalf of the Prime Minister and implemented by the French Agency for Ecological Transition (ADEME), the National Research Agency (ANR), Bpifrance, the Public Investment Bank and the Caisse des Dépôts et Consignations (CDC). For more information: www.gouvernement.fr/secretariat-general-pour-l-investissement-sgpi.
