German component supplier deltaVision says its new funding round will allow it to increase production of valves and related components to 5,000 units a year. Credit: deltaVision
WASHINGTON — German spacecraft component developer deltaVision has raised 10.2 million euros ($11.6 million) to expand production of valves and related equipment, with a focus on enabling in-space refueling.
The Munich-based company announced July 21 that it closed its first funding round, led by KT Ventures and Valemount Capital, with participation from Futury Capital and other unnamed private investors.
The funding will allow deltaVision to expand production of valves and related propulsion components to 5,000 units a year, citing strong demand and a constrained supply chain for such equipment. The 125-person company currently produces those items in a former Siemens factory in Munich and recently established a French subsidiary to develop similar components.
“We are fully committed to delivering products on an industrial scale,” said Alex Plebuch, chief executive and co-founder of deltaVision, in a statement. “It is exactly what the market demands.”
