Investment of $58M secured for Exotrail's projects: Spacestudio, Spacedrop, Spaceware, and Spacetower
French Space Logistics Provider Exotrail Secures $58M in Series B Funding
Exotrail, a leading provider of space logistics solutions, has announced that it has raised $58M in its Series B funding round. The round was led by Bpifrance, a French public investment bank, with participation from all of Exotrail's past investors, including 360Capital, Karista, Irdi Capital Investissement, Innovacom, iXO Private Equity, NCI-Waterstart, BNP Paribas, Banque Populaire Val de France, Eurazeo, a pan-European venture fund, and CELAD, a global software engineering firm.
Founded in 2015, Exotrail has developed a product portfolio that straddles software and hardware. The company's offerings include spacestudio, spacedrop, spaceware, and spacetower. In its Series B announcement, Exotrail referred to spaceware and spacestudio as its two 'known' products.
Spacestudio is a software suite that allows operators to fly and monitor their satellite fleets. Spaceware, on the other hand, is a ground station network that provides communication services for satellites.
Spacedrop is a launch and on-orbit deployment service for nano, micro, and small satellites lacking their own propulsion. Exotrail received the only space tug award from the French government's €1.55B space initiatives allocation for the development of this service. Spacedrop is set to launch on a SpaceX Transporter rideshare mission later this year.
The SpaceVan orbital transfer vehicle product of Exotrail will be validated in a demo mission in 2024. This vehicle is designed to provide efficient and flexible transportation for satellites in orbit.
Exotrail's product portfolio has been instrumental in the company's success. In 2022, the company tripled its backlog, and it has booked steady, triple-digit revenue growth in recent years. The funds raised in the Series B round will be used for the scale-up of Exotrail's existing product suite and for an accelerated go-to-market plan for new products.
Exotrail is focused on delivering its full vision of end-to-end space mobility and meeting customers where they are in North America, Europe, and Asia. The company plans to expand abroad, with beachheads in the American and Asian markets.
Bpifrance had previously backed Exotrail through F3A and Digital Venture investment vehicles. The funds raised in the Series B round will help Exotrail continue to innovate and lead the way in space logistics.
A follow-on mission in 2025 will carry the first customer payload for spacedrop. This mission will mark a significant step forward for Exotrail as it continues to push the boundaries of space logistics. The company was financed by the European Space Agency (ESA) for the development of the Spacetower software suite, further demonstrating its commitment to excellence in the field.
Exotrail's success is a testament to its innovative approach to space logistics and its dedication to meeting the needs of its customers. With its Series B funding, the company is well-positioned to continue its growth and lead the way in space mobility.
