Magdrive raised £8.3m in a seed funding round led by Redalpine to establish a US office and continue development of high-thrust electric propulsion systems.
PRIVATEFeb 25, 2025
Amount Raised
£8.3 Million
Round Type
Seed
OxfordshireManufacturingAerospaceSatellite Communication
Investors
BalerionAlumni VenturesOutsized Ventures7percentRedalpineFounders FundEntrepreneur First
Description
Oxfordshire-based Magdrive raised £8.3m in a seed funding round aimed at creating next-generation spacecraft propulsion. The funds will be used to establish a US office and further research and development for its propulsion systems.
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Company Information
Company
Magdrive
Location
Oxfordshire, England, United Kingdom
About
Magdrive is a startup focused on developing next-generation propulsion systems for spacecraft. The company aims to provide high-thrust electric propulsion solutions for various satellite sizes. With a commitment to research and development, Magdrive is working towards the first in-space tests of its innovative thrusters. Their technology targets the growing needs of the satellite constellations market, enhancing spacecraft manoeuvrability and longevity.
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OxfordshireManufacturingAerospaceSatellite Communication