The propulsion systems specialist startup Pangea Aerospace accelerates its growth. The Catalan company has closed a 23 million euro financing round led by the fund promoted by Pablo Casado, Hyperion Fund, in what has been its first investment operation after its launch.
Also participating in the round were the Center for Industrial Technological Development, dependent on the Ministry of Economy, and the Italian fund Primo Space, as well as the former CEO of Ariane Group André-Hubert Roussel.
The company, based in Barcelona and Toulouse, aims to accelerate its expansion in the European market and join the European Space Agency, as well as other agencies, with its advanced propulsion technologies.
Founded in 2018, the company has nearly 60 employees distributed between the Catalan capital and the French city, focusing on the development of more sustainable and efficient propulsion systems.
With these systems, the startup claims to solve the three historical problems of the aerospace field: weight, cooling, and manufacturing costs, which in turn allows for shorter time-to-market.
With the investment, the startup promoted by six founders with extensive experience in fields such as engineering and finance, will be able to expand its workforce and its manufacturing, integration, and testing capacity of its innovative systems.
Add The New Barcelona Post as your preferred Google source for free
Stay informed with the latest news.
