TAMPA, Fla. — Austrian satellite propulsion startup Gate Space has won 6.3 million euros ($7.2 million) in funding from Europe’s government-backed accelerator program, joining a wave of European companies attracting capital for greater space sovereignty.
The proceeds will accelerate the industrialization of chemical propulsion technology slated to fly to orbit for the first time in February on BeaconSat, Austria’s inaugural military satellite, Gate Space announced June 19.
“Space technology is critical infrastructure,” Gate Space cofounder and CEO Moritz Novak said via email.
“Both Austrian and the European institutions recognize the importance of a European industrial base for space technology, and its commercial and economic opportunity.”
Gate Space was the only space-focused firm among the 38 companies selected in the latest round of the European Commission’s European Innovation Council Accelerator program.
However, the award follows much larger funding rounds this year for space businesses across Europe.
Germany’s Isar Aerospace and PLD Space of Spain recently announced funding rounds of around $312 million and $209 million, respectively, to expand launch businesses that would reduce Europe’s reliance on SpaceX.
Earlier this month, Finnish radar imagery specialist Iceye announced a funding round worth more than 1 billion euros ($1.16 billion), after selling sovereign satellite systems to seven governments across Europe. The operator said the funding valued it at more than $12 billion, higher than any other private space company now that SpaceX is publicly traded.
Gate Space’s European Innovation Council funding comprises a mix of grants and equity, which Novak said brings its total raised to date to around $22 million.
The startup is developing high-thrust chemical propulsion systems for satellites, capsules and landing vehicles, including its standardized Jetpack mobility system for ESPA-class satellites.
Jetpack S, the smallest version listed on its website, offers 36,000 newton-seconds of total impulse with a nine-month lead time and a base price of 450,000 euros.
According to Novak, who cofounded the venture in 2022 with other graduates of the Vienna University of Technology, demand is mainly coming from three key areas:
“Rideshare launches: Satellites are often deployed into shared or initial orbits and then need chemical propulsion to reach their final operational orbit and start generating revenue.
Rendezvous and proximity operation (RPO) missions: Inspection, servicing and in-space refueling missions require precise, responsive chemical propulsion.
Crowded orbits and regulations: Satellites need reliable maneuvering capability for safe collision avoidance and reliable de-orbiting.”
First customer missions
Alongside BeaconSat, where Novak said its propulsion system is currently being prepared for integration ahead of a SpaceX Falcon 9 launch, Gate Space is also supporting ASTRAL, the European Space Agency’s first space refueling mission, led by U.S.-based OrbitFab’s British subsidiary.
ASTRAL (Advancing Satcom Technology with Refueling and Logistics) aims to demonstrate autonomous docking and propellant transfer between two satellites by 2028.
“Gate Space has signed further, confidential customer missions for 2027 and beyond,” he added.
The startup hopes its short lead times and vertical integration strategy will help give it an edge as operators look for faster ways to add maneuverability to increasingly complex satellite missions.
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