Logistics has emerged as the foundation of our modern world. From online ordering to the transportation of goods and people, logistics has become integral to our daily lives. And now, as we look to the vast expanse of space, some foresee a future where logistics will play an even greater role. This belief has led to the recent success of D-Orbit, an Italian startup that specializes in providing logistics services for companies operating in space. The company was able to secure an impressive €100 million (equivalent to $110 million) in a Series C round of equity funding.
The round was led by a strategic backer, Japan’s Marubeni Corporation, with the participation of other investors such as Avantgarde, CDP Venture Capital, Seraphim Space Investment Trust, and United Ventures, to name a few. This investment brings D-Orbit’s valuation to around $500 million, a testament to its potential and success in the space industry.
With this funding, D-Orbit plans to further expand its offering of logistics services for companies looking to operate satellites and other services in space. “Our final goal, the long term vision, is to connect Mars, the asteroid belt, the Moon and Earth through a logistics network capable of transporting goods, people and information,” says CEO Luca Rossettini, who co-founded the company with COO Renato Panesi.
D-Orbit offers a range of services including last-mile satellite delivery, mission control as a service, and space waste management. Its customers include both government space agencies and private companies, with significant contracts from both segments. The company has already deployed 100 satellites across 13 missions and 42 hosted payloads.
“Like logistics companies on Earth itself, it’s selling point is that, for companies operating different services…their core competencies are in the provision of their services, not in getting a satellite or a sensor on a satellite up into space and managing it once it’s there,” explains the article.
Competition in the space services industry is still relatively low, with only a handful of companies vying for a spot. However, D-Orbit has a clear advantage with its founders’ engineering backgrounds and experience in the space industry.
One area that D-Orbit is particularly focused on is the circular economy in space technology. Not only is it crucial to reduce the amount of waste in space and avoid costly collisions, but it also presents a unique business opportunity. The company plans to extend the lifespan of existing satellites by attaching smaller generators and creating a system for decommissioning and reusing parts of old satellites while still in orbit.
“D-Orbit represents an excellence that in these years has positioned itself as a category leader in the in-orbit transportation segment globally, becoming the first B-Corp certified space company in the world,” says Agostino Scornajenchi, CEO and GM of CDP Venture Capital.
With the increasing demand for satellite services and advancements in technology, the space industry is expected to generate over $1 trillion in revenue by 2030. D-Orbit’s innovative and sustainable approach to logistics is sure to play a significant role in this growth, solidifying its position as a leader in the industry and paving the way for future advancements in space exploration.