Dcubed secures over-subscribed Series A round investment

Dcubed, a German space technology developer, has successfully closed its Series-A funding round to boost further growth in the global space market. Mirroring the rising global positioning of Dcubed in the NewSpace market, the financing round attracted a broad diversity of eight international investors across Europe and the US. Due to this strong investor demand, the round was oversubscribed by 26%. The fresh funding will be used to scale the current production of satellite actuators. At the same time, Dcubed will drive its position in the sector of in-space manufacturing, which is largely seen as one of the key enabler technologies for future space applications. To propel both endeavors, the company has also opened a US office.

“Despite a tight global finance environment, investors notably oversubscribed our Series A round. This funding round proves high market trust in our capabilities. Together with our global investors, we now have a solid foundation to boost future growth in the booming space market. With the fresh funding, we will quadruple the production of our current product. At the same time, we are chasing ‘the next big thing’ in space by taking a trailblazing role in the field of in-space manufacturing. By opening our US office, we tap into the world´s most vibrant space ecosystem to further expand our global footprint and develop space innovations for the years to come,” said Thomas Sinn, CEO of Dcubed.

“Space is among the most rapidly evolving markets, expected to quadruple from about $500 billion to $2 trillion in just a decade. Dcubed has all the necessary assets to jump on this steep growth trajectory: It combines high-quality German engineering with a strong global business. It combines a space-proven product in the rising satellite business with a leading position in the future market of in-space manufacturing. We are glad to become part of this success story and to support Dcubed in conquering the next orbits,” said Ted Elvhage, General Partner at Expansion Aerospace Ventures.

“Having funded over 100 companies in the past 20 years, Dcubed is the first NewSpace equity investment of BayBG VENTURE CAPITAL. Our decision reflects the crucial role that space technologies play in driving all sectors on Earth – from connectivity and mobility to security and sovereignty. Dcubed has built a strong position while entirely financing its past growth via customer orders. The NewSpace race has started, and, together with Dcubed and our co-investors, we are glad to take a pole position,” said Alois Ganter, Investment Manager at BayBG Venture Capital.

“From climate change to economic growth: NewSpace is among the key enablers for solving critical challenges on Earth. To drive this development, the US certainly provides the most flourishing ecosystems and is also one of the most competitive. With its already strong US business – having delivered products for a who’s who of aerospace customers – Dcubed has proven to be a rapid innovator and trusted supplier with immense opportunity to scale. We are glad to propel this journey with our expertise and partners,” said Ariel Ekblaw, General Partner at Aurelia Foundry.

“Deep tech and NewSpace start-ups have to show that they can make money while pursuing a big vision. Dcubed has done this impressively in recent years. As lead investor in the seed round, I am very pleased about the completion of the Series A and see my investment thesis confirmed,” said Christian Ziach, Principal at HTGF.

The funding round is spearheaded by lead investors Expansion (a new Franco-Swedish fund which is one of the largest European VC funds dedicated to New Space and New Air Mobility) and BayBG (one of the leading investors in developing Bavarian tech for over half a century). Co-investors from Europe comprise High-Tech-Gründerfonds (ranking among Europe’s largest tech funds), Dcubed’s seed lead investors that confirmed its trust in the company by bringing in fresh investment, as well as Rymdkapital (Sweden’s leading venture capital firm for soaring space companies). Further German uplift is fueled by Ventis Capital (a family-backed investor specialized in driving entrepreneurs at early-stage growth) and Decisive Point Europe (experts in scaling and M&A). The European investor portfolio is complemented by Aurelia Foundry (a leading US deep tech fund with deep roots in the US NewSpace ecosystem).

The new investment will help Dcubed increase its production, with the company planning to produce more satellite solar arrays with a unique foldable design and quadruple their actuator output by the end of 2024. Actuators are vital for satellites as they secure components during launch and release them in space, and Dcubed has become a leading supplier of actuators for space applications over the last four years.

With satellite launches expected to skyrocket – adding over 100,000 new satellites to the current 10,000 in the next few years – Dcubed aims to meet this demand by standardizing its products and launching an online store for space products, making ordering as easy as shopping on any major retail site.

Dcubed also plans to invest in in-space manufacturing (ISM), a key technology for future space projects. ISM allows building and testing in space – saving time and money. Dcubed will lead this innovation by 3D printing a high-performance satellite solar array in space in 2025. The company received €9.5 million from the European Innovation Council for this project in July 2024.

To support their growth, Dcubed opened a US office in Westminster, Colorado, a major hub for space companies. This office will help them connect with US customers, who make up more than half of their client base. Andria Fortier, with nearly a decade of experience in aerospace and defense, will lead the US operations and grow relationships with American customers and partners.