Dcubed’s Series A is led by the French-Swedish fund Expansion and BayBG as lead investors. Co-investors from Europe include existing investor High-Tech-Gründerfonds and Rymdkapital from Sweden. Additionally, Ventis Capital, Decisive Point Europe, and the American deep-tech fund Aurelia Foundry are contributing to the funding round. According to SZ reports, the round brings 4.4 million euros into Dcubed’s coffers.
The Munich startup plans to use the new funds to expand its production. This includes manufacturing satellite solar modules in a foldable origami design as well as a planned quadrupling of actuator production by the end of 2024. This technology is a critical mechanism in satellites of all sizes that keeps components securely in place during launch and reliably releases them in space after launch. To boost sales, Dcubed also plans to launch its own online shop for space products to make it easier for customers to place orders. Furthermore, Dcubed intends to invest in in-space manufacturing (ISM).
Additionally, Dcubed is opening a US office in Westminster, Colorado, an important new space hub with a high concentration of space companies, research institutions, and qualified personnel. Dcubed’s US office is located in the Advanced Space building. The Munich company aims to directly benefit from the US space company’s network and proximity to customers. Currently, companies from the US make up more than half of Dcubed’s customer base, the company says.
“Dcubed has all the necessary prerequisites”
Thomas Sinn, CEO of Dcubed, explains:
“Despite a tight global financial environment, investors heavily oversubscribed our Series A round. This funding round demonstrates the market’s high confidence in our capabilities. Together with our global investors, we now have a solid foundation to drive future growth in the booming space market. With the new funding, we will quadruple production of our current product. At the same time, we are pursuing the ‘next big thing’ in space by taking a leading role in in-space manufacturing. With the opening of our US office, we are tapping into the world’s most dynamic space ecosystem to further expand our global presence and develop space innovations for the years to come.”
Ted Elvhage, General Partner at Expansion Aerospace Ventures, adds:
“Space is one of the fastest-growing markets. The market volume is expected to quadruple from approximately 500 billion dollars to 2 trillion dollars in just ten years. Dcubed has all the necessary prerequisites to capitalize on this steep growth trajectory: the company combines high-quality German engineering with strong global business. It combines a space-proven product in the emerging satellite business with a leading position in the future market of in-space manufacturing.”
And Alois Ganter, Investment Manager at BayBG Venture Capital, says:
“After financing over 100 companies in the last 20 years, Dcubed is BayBG Venture Capital’s first new space investment. Our decision reflects the central role that space technologies play on Earth in all areas – from connectivity and mobility to security and sovereignty. And the strong position that Dcubed has built by financing its growth entirely through customer contracts.”
