Space Mobility Company Exotrail Raises $58 Million in Series B Round
Space mobility company Exotrail has raised $58 million to scale-up and pursue its ambitions for space mobility. The funds raised will fuel the scale-up of Exotrail’s known products: spaceware space-proven electric propulsion systems and space studio mission design software, the introduction and growth of Exotrail’s new products: space tower operations software and its space logistics service space drop, and the expansion of Exotrail’s international presence, with a strong focus on the U.S. and Asian markets.
"We are now ready to accelerate our efforts in positioning our mobility hub as the world reference for effectively moving assets in space."
Exotrail CEO and cofounder Jean-Luc Maria.
This Series B fundraising round brings new ambitious investors onboard: Bpifrance, already present in the capital via F3A and Digital Venture funds, led this new round via the SPI fund (Sociétés de Projets Industriels) and the Innovation Defense Fund, as well as Eurazeo, a leading European VC investing in tech champions worldwide, and the international software engineering company CELAD. All Exotrail’s historic investors – 360 Capital, Karista through the Paris Region Venture Fund, Irdi Capital Investissement, Innovacom, iXO Private Equity and NCI-Waterstart, together with BNP Paribas and Banque Populaire Val de France from BPCE Group – also participated in the round.
Exotrail Offers Holistic Approach to Space Mobility
Based in France, Exotrail aims to build a new world of space logistics with a mission to make satellite constellations economically and environmentally sustainable. Exotrail’s products focus on satellite mobility, optimizing their deployment, increasing their service performance, and reducing space pollution. Exotrail is the first worldwide space mobility company to offer a complete and holistic approach to space mobility with products including advanced propulsion systems, modern and intuitive mission design and satellite operation software, as well as in-space logistics services designed for constellations. The company will use the funds raised to continue innovating and developing cutting edge products to enhance its mobility offer.
Despite challenging global macro-economic market conditions, Exotrail’s Series B round was oversubscribed thanks to an outstanding commercial performance in 2022. The company has recorded steady, triple-digit growth revenue for the last few years, tripling its backlog last year. Exotrail currently employs 90 people and plans to hire more than 70 people all over the world, over the next 12 months. Its strong customer base covers North America, Europe and parts of Asia, and includes a well-balanced mix of commercial and institutional players across the space value chain – from launch service providers to satellite manufacturers and operators.
“We are grateful for the trust and confidence all our investors vest in Exotrail. This series B round validates our comprehensive and logistics-driven approach to space mobility," said Exotrail CEO and cofounder Jean-Luc Maria. "We are now ready to accelerate our efforts in positioning our mobility hub as the world reference for effectively moving assets in space. The message we are sending to all space companies wherever they are on Earth is clear: space logistics is coming, and Exotrail will be your preferred partner!”
“Its technologies, its large-scale industrial project and its international ambitions as a provider of dual services in orbit to the space industry, are all strengths that have seduced us in the Exotrail project, supported since its creation by Bpifrance via the F3A fund and the Digital Venture fund," said Jean-Philippe Richard, Deputy Director of the SPI fund. "The combination of SPI and FID funds, bringing their expertise in industrialization and management of sovereign projects, symbolizes Bpifrance's deep ambition to support the reindustrialization of France by supporting innovative and job-creating projects in the territories such as the one carried by Exotrail.”
(Source: Exotrail news release. Images provided)