IENAI Space recently announced a successful funding round that raised €3.9 million to advance its innovative electric propulsion technologies. The Madrid-based startup's latest investment round brings its total funding to €7 million, marking a significant milestone in the company's growth trajectory.
The funding came from a consortium of investors, including prominent Spanish companies such as Inveready, WA4STEAM, DPM, GED Conexo Ventures, and CDTI, a government-backed entity that complements private investments in promising ventures.
With this infusion of capital, IENAI plans to expand its team, with a targeted increase from 22 to 30 employees. This strategic hiring initiative will bolster the company's research and development capabilities, accelerating progress in its space electrospray thruster system development.
Moreover, IENAI aims to enhance its manufacturing and testing infrastructure across Europe. The company has already established clean-room facilities in key locations like Madrid, Barcelona, and Uppsala (Sweden) through collaborations with prestigious institutions such as CNM-CSIC (Instituto de Microelectrónica de Barcelona) and Uppsala University.
This latest funding round not only signifies a vote of confidence in IENAI's technological prowess but also sets the stage for the company to solidify its position as a leader in electric propulsion systems for space applications. Exciting times lie ahead as IENAI propels towards new frontiers in the aerospace industry
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