BORDEAUX, France (HyPrSpace PR) – HyPrSpace, a start-up specializing in the design of space launchers, announces that it has raised €1.1 million from the Geodesic fund, the French Tech Seed fund managed on behalf of the State by Bpifrance within the framework of France 2030, and private investors. This funding will allow the startup to strengthen its teams to accelerate the development of its reusable OB-1 launcher, and to offer a fast, economical, sovereign and more environmentally friendly orbiting service!
Founded in 2019 by Alexandre Mangeot, Sylvain Bataillard and Vincent Rocher, HyPrSpace aims to develop a launcher using a propulsion technology facilitating access to space: hybrid propulsion. This technology is reliable, inexpensive and with a lower carbon footprint, but until now it suffered from a technology lock-in that made the engines unusable for launch applications.
HyPrSpace develops an innovative and patented architecture that removes the blockage of hybrid propulsion. This technological breakthrough makes it usable for launchers, which then benefit from the simplicity and reliability of these engines, thus reducing launch costs and access to space. OB-1 is a reusable rocket with hybrid propulsion, which halves the cost of access to space, while reducing the carbon impact of the space industry.
Thanks to this fundraising from Geodesic (future Expansion Ventures), the BPI, and other private investors, the startup aims to strengthen its workforce to continue the development of its micro-launcher.
The propulsion is a hybridization between solid and liquid propulsion, which are propulsion technologies inherited from the Cold War and which are still used on conventional rockets, for lack of anything better.
The objective of this patented technological innovation is to provide a hybrid engine which benefits from the advantages of solid and liquid propulsion without their drawbacks. It will enable HyPrSpace to offer the rapidly expanding microsatellite market simplified access to space at low cost and with reduced environmental impact.
“The technological breakthrough developed by HyPrSpace and its launch capability are essential to the development of the space industry. HyPrSpace is part of Geodesic’s primary investment focus” -Charles BeigbederGeodesic CEO
“This fundraising is the first step towards a micro-launcher that will reduce the cost of access to space, at a time when this need is more vital than ever for France and Europe.” – Sylvain Battaliongeneral manager of HyPrSpace
Founded in 2019 by several engineers passionate about space, HyPrSpace is a company developing a micro-launcher capable of putting 250kg of payload into orbit. It uses a hybrid propulsion method that mixes solid and liquid reactants, allowing for a simple and reliable engine. The innovation developed by HyPrSpace has been appraised by the Direction Générale de l’Armement and ONERA. HyPrSpace is already financially supported by CNES, the French space agency, ESA through ESA BIC, DGA and the Nouvelle-Aquitaine region.
He is also a member of Aerospace Valley.
Geodesic, an investment vehicle for New Space start-ups created in 2021 by Charles Beigbeder, announced on April 13 the co-foundation with the Starburst accelerator of the Expansion fund, with a target size of 300 million euros , with the aim of becoming the leading European fund for financing Aeronautics & Defense start-ups.
About Bpifrance and the French Tech Seed fund
Bpifrance finances companies – at every stage of their development – with loans, guarantees and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer for entrepreneurs.
Thanks to Bpifrance and its 50 regional departments, entrepreneurs benefit from a close, unique and efficient contact to help them meet their challenges. More information on: www.bpifrance.fr
The French Tech seed fund of 500 million euros aims to support the raising of funds for innovative start-ups and micro-businesses less than 3 years old carrying innovations with high technological intensity. The fund, created by France 2030 and operated by Bpifrance, relies on approved business contributors to identify and qualify these start-ups and put them in contact with private investors. These business contributors, guarantors of the technological validity of the project, will allow public investment in the form of Convertible Bonds of up to 400 million euros, in addition to the capital provided by private investors. An additional €100 million will be dedicated to equity investments in addition to the conversion of Convertible Bonds.
About France 2030
– The France 2030 investment plan: It reflects a dual ambition: to sustainably transform the key sectors of our economy (energy, automotive, aeronautics and space) through technological innovation, and to position France not only as a player, but as a as a leader of the world of tomorrow. From basic research, to the emergence of an idea, through the production of a new product or service, France 2030 supports the entire life cycle of innovation up to its industrialization.
It is unprecedented in its scale: 54 billion euros will be invested so that our companies, universities and research organizations succeed in their transition in these strategic sectors. The challenge is to enable them to respond in a competitive way to the ecological challenges and attractiveness of the world to come, and to train the future leaders of our sectors of excellence. France 2030 is defined by two cross-cutting objectives: devote 50% of its expenditure to the decarbonisation of the economy, and 50% to emerging and innovative players, without spending that is unfavorable to the environment (in the sense of the Do No Significant Harm principle).
Will be implemented collectively: designed and deployed in consultation with economic, academic, local and European players to determine strategic orientations and key actions. Project leaders are invited to submit their application via open, demanding and selective procedures in order to benefit from State support.
The program is managed by the General Secretariat for Investment on behalf of the Prime Minister and implemented by the French Agency for Ecological Transition (ADEME), the National Research Agency (ANR), Bpifrance, Banque public investment fund and the Caisse des dépôts et consignations. (CDC). For more information: www.gouvernement.fr/secretariat-general-pour-l-investissement-sgpi.