Orbex, an orbital launch services company based in the UK has announced that it has secured $24 million in its most recent funding round, according to Graphene Info. These funds are planned to go towards their first vertical launch vehicle, named the Orbex Prime, which will be made of a number of advanced materials, including graphene-enchanced carbon fiber composites for the main structure and it’s tanks.
CEO Chris Larmour described this funding round as “…an important first step forward for Orbex. It helps us maintain our rapid pace and allows us to move forward with certainty towards our first launch from the Sutherland spaceport. With BGF and Octopus Ventures, we have found significant strategic partners who recognize our vision, and who have the capability to support our development through both the early flights and into subsequent growth and production,”
This funding round will allow for the Orbex to continue on it’s roadmap towards the launch of this advanced new rocket.