Singapore’s rocket startup, Equatorial Space has closed its latest round of funding.
The 1.5m pre-Series-A round was led by Singapore’s Farquhar VC, and participated by Australia’s Northern Territory strategic venture investor, Paspalis.
The round will support the Company’s development of Dorado-sounding rockets and associated infrastructure, including a new static firing test facility at Hidden Valley in Darwin, Northern Territory.
“For the first time in our journey, we are now in possession of a conducive site where our engines can be conveniently tested at scale – we are both grateful and excited to be working with the great community in Darwin on delivering transformative propulsion and launch products to the growing space industry internationally,” says Simon Gwozdz, the CEO and Founder of Equatorial Space.
“Having known the Team at Equatorial Space for nearly half a decade, we are impressed by their dramatic progress over the years and bullish on their future in the global space tech ecosystem,” says Jason Su, Chief Investment Officer at Farquhar VC, “we are delighted to have become their latest lead investor as the company gears towards key test flights later in the year.”
“Paspalis supports numerous deep tech ventures from the APAC region and has been long confident in the calibre of talent and tech in Singapore’s space community – we have great confidence that the synergies across both our ecosystems will enable Equatorial Space to become a market leader in space launch very soon.” added Harley Paroulakis, Chief Executive Officer at Paspalis Corporation.
Farquhar VC (FVC) is a Singapore-based early-stage venture capital firm specialising in Seed to Series A startups in the Foodtech, Industry 4.0 and Digital Media sectors across Southeast Asia. FVC makes early and transformational investments in companies that have the potential to change the world. Its dedicated team is made up of seasoned investors who are looking to partner with passionate and visionary entrepreneurs to help them succeed. info@farquhar-capital.com
Paspalis is pioneering efforts to develop the Australian venture industry, innovation and start-ups in the Northern Territory. vc@paspalis.com.au
Equatorial Space is a Techstars-backed, Singapore-headquartered rocket propulsion and launcher company that was founded in 2017. Its group includes wholly owned subsidiaries American Space Inc. and Equatorial Space Systems Australia Pty Ltd.
With its proprietary propulsion technologies, Equatorial Space builds game-changing, eco-friendly, low-cost and explosives-free rockets to foster the future of space exploration.
In 2020, Equatorial Space became the first company in Southeast Asia to test-launch a commercially developed rocket prototype, testing its core technologies. It will begin orbital launch services in 2026.
1.5M what ? USD?