InSpacePropulsion Technologies (ISPTech), a spin-off from the German Aerospace Center (DLR), has raised €2 million in a pre-seed funding round. The investment was led by HTGF | High-Tech Gründerfonds, along with First Momentum Ventures and Possible Ventures.
- ISPTech was founded in 2023 by Dr. Lukas Werling and Felix Lauck. The startup is developing propulsion systems for spacecraft of all sizes to enable open-space travel. As the startup claims, today's space propulsion methods are either highly reliable or low-cost. ISPTech's solutions, which are based on tens of hot firing tests at DLR’s facilities, allow it to meet both of the needs, the team says.
“We spent many years researching propulsion technologies, testing the products of our current competitors and working with many of our future customers. During all these times, we saw a clear and large market demand for affordable, quickly available, and robust propulsion technologies. Our mission now is to meet this demand,” said Felix Lauck and Dr. Lukas Werling, founders of ISPTech.
- The leading investor in the round is seed investor HTGF. Since 2005, it has backed more than 700 startups. The focus of the company is on high-tech startups in the domains of chemistry, life sciences, digital tech, industrial tech, and related commercial domains.
“ISPTech is the only startup offering solutions from below 1N to 1KN with high TRL and exceptionally positioned to set a new market standard,” said Dr. Koen Geurts, investment manager at HTGF, in a statement.
- The funding is planned to be used to boost the propulsion technology further in order to fulfill customer demands and become qualified for space flight. By the end of 2025, ISPTech's technology will be deployed on its first flight.
