Space-tech startup Aurora Propulsion Technologies closes EUR 1.7 million seed funding round

Aurora Propulsion Technologies, a leading space propulsion systems company, today announced the closing of its Seed funding round for EUR 1.7M€ with Practica Capital as lead investor and joined by Tesi (Finnish Industry Investment Ltd.) and The Flying Object, a Fund from Kluz Ventures.

The company makes products for movement in space, with microthrusters and Plasma Brakes, as its spearhead technologies. Sustainable technologies for precise positioning in space and economically viable orbit control systems are becoming essential hardware components.

The innovations by Aurora Propulsion have the potential to greatly enhance the sustainable and resource-efficient use of technology in space. We are happy to support the growth and mission of the company as part of the larger investor syndicate in the funding round,” comments Samppa Sirviö, Investment Manager on Tesi’s Venture Capital team.

The investment in Aurora propulsion was made from Tesi’s Venture Bridge programme, which is targeted for earlier-stage companies facing fundraising challenges due to the COVID-19 pandemic.

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 1.9 billion euros. www.tesi.fi | @TesiFII