Jelix Fund 1 has invested AUD $1.2 million in VXB Aerospace to support the development of its innovative thruster technology, positioning the company for significant growth in the expanding satellite propulsion market.
Information on the Target
VXB Aerospace is an innovative satellite technology firm poised to transform the satellite launch landscape through the development of thrusters that prioritize speed, cost-effectiveness, and ease of integration with existing technologies. Backed by Jelix, VXB aims to develop its flagship product, the 'Zephyr' thruster, alongside proprietary AI technology that addresses the pressing market demand for efficient and reliable satellite propulsion.
In November 2024, Jelix Fund 1 spearheaded a seed funding round, raising AUD $1.2 million for VXB Aerospace, with contributions from several angel investors. This financial support is intended to facilitate the advancement of VXB's technology concurrently with their participation in the esteemed Techstars Space 2024 Accelerator program in the U.S., where they will collaborate with leading experts in space technology and commercialization.
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Industry Overview in Australia
The satellite propulsion sector within Australia is witnessing rapid growth, driven by increasing investment in space technology and the growing demand for satellite launches. The Australian government has committed to bolstering the national space industry, with initiatives
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Jelix Fund 1
invested in
VXB Aerospace
in 2024
in a Seed Stage deal
Disclosed details
Transaction Size: $1M