France has long been a leader in the aerospace industry, and the recent funding round of French spacetech company Exotrail has only solidified this position. With $58M raised in debt and equity, this Series B round was led by French state investor Bpifrance. Exotrail specializes in the production of propulsion systems for satellites, aiming to make space travel easier and safer.
This funding round is particularly noteworthy because of the involvement of Elon Musk’s SpaceX, which has been making major investments in spacetech companies worldwide to further its mission of making space exploration more accessible. As a result, Exotrail has become a go-to partner for SpaceX, looking to leverage its expertise in propulsion systems and other technologies to make space travel more efficient.
Exotrail is looking to use this funding to develop new products and expand its presence in the US and Asia. The company has already begun to move to increase its presence in the US, signing an agreement with the US Air Force in 2019 to create a new system for commercial satellite launches. Exotrail is also looking to expand into Asia and tap into the growing demand for spacetech solutions.
The French spacetech revolution is well and truly underway, with Exotrail at the forefront. By partnering with SpaceX, the company is looking to revolutionize the aerospace industry and make space exploration more accessible than ever before. With this funding, the company is well-positioned to make major strides toward this goal, and it will be interesting to see how Exotrail continues to innovate in this space.