D-Orbit welcomes Marubeni Corporation as lead investor in current Series C funding
We are proud to have recognized the potential of D-Orbit back in 2015, firmly believing in founder Luca Rossettini‘s vision and embarking on this extraordinary journey since the seed round. Our faith in Italian #innovation and the power of great ideas was reaffirmed with our reinvestment in 2021, marking a path of shared growth and success.
Special thanks to Mauro Ferrari, our member and Champion of the investment initiative, whose support has been pivotal for both Club degli Investitori and the startup.
Club degli Investitori continues to believe in and invest in the #stars of our entrepreneurial ecosystem, supporting the brilliant minds designing the future. To Luca Rossettini and the D-Orbit team, we send our warmest wishes for your interstellar journey!
Here the press release
Fino Mornasco, November 9, 2023: D-Orbit, a leading global provider of cutting-edge satellite logistics services, and Marubeni Corporation, a powerhouse in the Japanese industrial sector, are thrilled to announce a groundbreaking investment agreement. This transformative collaboration, officially sealed on November 8, is poised to revolutionize the space logistics industry. Subject to the acquisition of necessary permits and approvals, this strategic partnership is on track to be realized by the end of 2023.
Projections for the space sector indicate an upward trajectory from $270 billion in 2014 to an estimated figure of $546 billion by the close of 2023, with the potential to surpass $1 trillion mark by 2030. This expansion fuels a surge in satellite launches and, consequently, drives the demand for satellite services, including access to and transportation in space.
Marubeni assumes the role of the lead investor in D-Orbit’s Series C funding round; the round, that includes other Italian, European, and international investors, is expected to exceed in total 100 million euros.
This Series C funding round will enable D-Orbit to strengthen its operations in Italy while accelerating progress along its roadmap on a global scale, with a specific emphasis on in-orbit servicing, space cloud computing, and orbital transportation. It will also contribute significantly to the realization of a ‘circular space economy,’ where space debris transforms into a valuable resource. Thanks to advancements in in-orbit servicing, it will become possible, in the future, to collect and recycle debris in orbit, and manufacture spacecraft suitable for interplanetary travel; the autonomous vehicles required for this purpose will be managed through a space cloud network that D-Orbit is already actively developing.
Furthermore, in response to the growing frequency of satellite launches, D-Orbit remains steadfast in its commitment to fortify space sustainability and environmental responsibility. The company pledges not only to deliver orbit insertion and operational support services but also to expand its offerings to include critical services such as satellite lifespan extension and space debris removal.
Luca Rossettini, CEO of D-Orbit, stated, “We are excited to join forces with Marubeni Corporation in this transformative partnership, marking a significant milestone in D-Orbit’s journey. This collaboration not only propels us toward realizing our ambitious roadmap but also strengthens our commitment to reshaping the space logistics industry. Together, we aim to drive innovation, enhance satellite services, and contribute to a more sustainable and vibrant future in space.”
Through this strategic partnership, D-Orbit anticipates Marubeni’s active support in company’s growth and expansion. Furthermore, D-Orbit and Marubeni are extending the agency mandate of Marubeni beyond the initial scope limited to Japan to Southeast Asia, significantly amplifying D-Orbit’s presence and delivery of services to satellite operators on a global scale.
“Marubeni Corporation is thrilled to embark on this partnership with D-Orbit. This investment underscores our commitment to driving innovation and growth in the satellite industry. Together with D-Orbit, we envision a future where space services are not only technologically
advanced but also sustainable. We are excited about the possibilities this collaboration present and the positive impact it will have on the industry and our shared vision of a more accessible and sustainable space environment”, commented Toru Okazaki, Chief Operating Officer, Aerospace & Ship Div. of Marubeni Corporation.
D-Orbit is proud to collaborate with Marubeni in its ambitious mission to become a comprehensive satellite solutions provider and believes that this partnership is poised to redefine the landscape of the satellite industry, ushering in an era of innovation and sustainable growth.
BofA Securities and UniCredit act as Joint Placement Agents for this transaction. Eversheds Sutherland acts as legal advisor to D-Orbit. Gianni & Origoni acts as legal advisor to Marubeni.