We have reached our first target on Seedrs.com/orbital-machines and are ready to overfund for the next 14 days, realizing our testplans scheduled for the next two years.
The successful crowdfunding means we will start hydrotesting the prototype for their customer Venture Orbital Systems this fall, as well as conducting a static fire test with Copenhagen Suborbitals scheduled for this year.
“The small and mid-sized companies in the New Space Industry really needs a supplier market that can reduce their cost and risk in their services.”, says Eivind LIland, CEO
“Orbital Machines is doing that by standardizing the basic design of critical systems and components in the rockets. Recent battery technology and economies of scale enables us to do so, starting with our first product: the electric propellant pump”, Liland continues
The NewSpace industry is looking at exponential growth, but the complex and tailor-made technology is currently a roadblock for many companies. Significant customer traction has proved to Orbital Machines that our propellant pump is ready to be commercialized.
“We are dependent on the equity crowdfunding campaign to respond to our customer traction. The campaign lasts for 14 more days, and as we overfund, more projects and faster development is realized”, Liland says.
Orbital Machines has previously had two successful Norwegian crowdfundings on the Norwegian platform folkeinvest.no, making this a lucky third.
“We know there’s a broad interest for space investments in the UK and in many European countries. This is why we believe we have great chances for another successful campaign.” – says Liland
“I am proud to have crowdfunded the company successfully three times. Orbital Machines wants to democratize space, be supplying standardized and affordable systems and components to the launch industry. Just like we want to cooperate with customers of all sizes, I love that we can say the same about our shareholders”, says Liland