Dcubed U.S. Managing Director Andria Fortier and CEO Thomas Sinn. Photo: Dcubed

Dcubed has closed its Series A funding round, a funding round that oversubscribed by 26%. The German space startup will use the funding to scale the current production of satellite actuators. At the same time, Dcubed will drive its position in the sector of in-space manufacturing, which is largely seen as one of the key enabler technologies for future space applications.

Dcubed announced the latest successful funding on Aug. 5. The round attracted eight prominent investors from France, Sweden, Germany, and the U.S., including Expansion and BayBG as lead investors, alongside HTGF, Aurelia Foundry, Ventis, Rymdkapital, and Decisive Point Europe.

The funds will be strategically utilized to quadruple the production of satellite actuators by the end of 2024, addressing the anticipated demand from over 100,000 satellite launches in the coming years. Additionally, Dcubed aims to pioneer in-space manufacturing technologies, which are crucial for the development of high-power satellites, space solar power, lunar bases, and the acceleration of space exploration.

The company is also accelerating its plans in the U.S. market by opening a U.S. office in Westminster, Colorado in the Advanced Space building. The company plans to grow its team in the U.S. and development will be led by Dcubed’s new U.S. Managing Director, Andria Fortier.

“Despite a tight global finance environment, investors notably oversubscribed our Series A round. This funding round proves high market trust in our capabilities. Together with our global investors, we now have a solid foundation to boost future growth in the booming space market. With the fresh funding, we will quadruple the production of our current product,” Thomas Sinn, CEO of Dcubed, said in a statement.