What's Happening?
Infinite Orbits, a French satellite servicing company, has raised €40M ($46.3M) to support its expansion in in-space servicing capabilities. The funding round included participation from the European Innovation Council Fund and several venture capital
firms. Infinite Orbits aims to establish itself as a leader in satellite servicing, competing with U.S. and Chinese companies. The company plans to open new offices across Europe and has a backlog of €150M ($173.8M) in civilian and military programs.
Why It's Important?
The investment in Infinite Orbits highlights Europe's growing interest in developing in-space servicing capabilities, a sector crucial for maintaining and extending the life of satellites. This move positions Europe as a competitive player in the global space industry, potentially influencing international market dynamics and fostering innovation in satellite technology. The expansion could lead to increased collaboration across European countries, enhancing the continent's technological and economic influence in space.
What's Next?
Infinite Orbits plans to deploy its flagship servicing spacecraft, Endurance, for its first missions. The company has signed contracts with major entities, including the French Ministry of Defense and the U.S. Air Force, indicating a strong demand for its services. The successful deployment of Endurance could set a precedent for future satellite servicing missions, potentially leading to more partnerships and technological advancements.
