- Aliena, a Singapore-based spacetech startup, has raised $5.6 million in Series A funding.
- The company’s electric propulsion systems cater to various sectors and global markets.
- Aliena will upgrade facilities and scale production with the newly raised funds.
Aliena, a Singapore-based spacetech startup specializing in electric propulsion systems, has recently raised $5.6 million in a Series A financing round led by Wavemaker Partners.
The company’s technology is application agnostic, catering to various sectors such as telecommunications, observation, quantum key distribution, secure information distribution, and deep-stage missions.
This versatility enables Aliena to reach global markets, currently serving customers from the UK, the European Union, and Asia.
Powering Singapore’s remote sensing VLEO satellite
Aliena has been contracted to custom-build a version of its off-the-shelf system for Singapore’s remote sensing very-low-Earth orbit (VLEO) satellite.
The company’s propulsion systems are highly specialized, offering power-efficient and fuel-efficient engines that provide high thrust to combat air drag at lower flight levels. The satellite is expected to be operational at VLEO in 2025.
Ramping up production and testing capabilities
Half of the raised funds will be used to upgrade and relocate Aliena’s facility for jet propulsion testing, allowing the firm to onboard more clients and scale production of its jet propulsion systems to dozens, and eventually hundreds, in the next two to three years.
The company’s revenue and capital expenditure are expected to rise in 2024 as it continues to ramp up production, expanding beyond its primary focus on R&D services and hardware sales.
To read the original article: https://www.techinasia.com/aliena-56-million-backing-space-engine-plans-mentions-company-significant-amount-investment-hinting-exciting-ambition-project
