First Commercial Space Mission Announced by Reflex Aerospace

Reflex Aerospace has secured a launch slot from SpaceX for its first commercial space mission, launching a demo satellite in the fall of 2024.

"The increase in our financing confirms our investors’ confidence in this goal. With this tailwind, we are pushing ahead with the construction of our micro factory, which we will open in Munich in the second half of 2023."

Walter Ballheimer, CEO of Reflex Aerospace.

The goal of the company's first commercial space mission is to validate new technologies in space for the first time. The demo satellite, which weighs around 120 kilograms (≈265 pounds), is currently under development and will be assembled in Munich. The company's local ‘micro factory’ for the production of customer-specific satellites is scheduled to open later this year.

The Reflex Aerospace first commercial space mission and other operations are supported by an expansion of the so-called seed financing by a further 1.75 million euros ($1.89 million), bringing total investment in the company to nearly 9 million euros ($9.7 million). In addition to increases from existing investors, Bayern Kapital is joining the group of shareholders through its EFRE Bayern innovation fund.

Bayern Kapital ranks among the most experienced and active venture and growth investors in the German high-tech financing landscape; its investment will, among other things, support the establishment of the first micro-factory near Munich. Driven by expected commercial order intake, seed funding is expected to increase further during the year. In addition, Starburst Accelerator – one of the most renowned European accelerators for aerospace start-ups – will also be on board in the future to support the development of the international business as a partner of Reflex Aerospace, particularly in the USA and France.

First Commercial Space Mission is a Significant Milestone

"As a new space start-up, we are of course eager to demonstrate the performance of our technologies directly in space. Therefore, we are very pleased that this milestone now comes within reach with our first fixed launch slot," said Walter Ballheimer, CEO of Reflex Aerospace. "The increase in our financing confirms our investors’ confidence in this goal. With this tailwind, we are pushing ahead with the construction of our micro factory, which we will open in Munich in the second half of 2023. In addition, we are fully on track to almost double our workforce across all sites to around 50 employees in 2023."

“We are very pleased to add Reflex Aerospace to our aerospace portfolio. Ranking among the first investors that engaged in the field of `New Space ́, we have already invested in numerous exciting companies such as Isar Aerospace, Quantum Systems and OroraTech," said Monika Steger, Managing Director of Bayern Kapital. "Reflex Aerospace has a promising business model, and we are looking forward to supporting its further development."

(Source: Reflex Aerospace news release. Courtesy image)