Qosmosys, a Singapore-based lunar technology startup backed by investment firm Orient G, has announced raising $100 million in seed funding that will be allocated towards its lunar transportation vehicle Zeus X.
The announcement did not mention the institutional investors behind the seed round. A company executive told DealStreetAsia that it does not disclose the investors’ identity, which he said is a pool of Western and Asian private wealth firms.
In a statement, Qosmosys said the seed funding, an “industry-record-setting round at this stage”, will help expedite its goals of becoming a significant entity in the space exploration landscape.
“Qosmosys continues to attract investment through a unique and protective funding model. The structure welcomes a limited consortium of investors, safeguarding all stakeholder interests in anticipation of a planned IPO by 2028 at the latest,” it said.
Established in 2020 with branches in France and the US, Qosmosys seeks to make lunar access more accessible by providing both public and private sectors with transportation, robotics and resources, and science and technology.
In 2021, Orient G a Singapore-based investment and strategy boutique firm, invested in the company. It also signed a service agreement with Momentus Inc, a commerce space company, that year to deliver two CubeSats, or miniature satellites, to low lunar orbit as early as 2024.
The fresh funding will be principally allocated to the development of ZeusX, a lunar transportation vehicle, the company said. The first two flight models of ZeusX are on track for launch in late 2027 and 2029.
Qosmosys earlier announced that Airbus will provide technical design and engineering services for its ZeusX concept.
“This landmark investment represents a pivotal moment for both Qosmosys and the broader space exploration sector. We are profoundly thankful for the unwavering commitment demonstrated by our investors,” said Qosmosys CEO Francois Dubrulle.
In Asia, a number of space tech startups have recently garnered capital. Among them is Agnikul, which made headlines when it reportedly raised $20 million in funding from Rocketship.vc and others in the latter part of 2022. Before that, Bellatrix Aerospace had amassed $8 million in June led by BASF Venture Capital GmbH, and Inflexor Ventures, a sector-agnostic technology-focused fund.