Barcelona Activa: PANGEA Aerospace logra 23 millones en una ronda y se consolida en el sector aeroespacial

Pangea Aerospace, startup especializada en el desarrollo de sistemas de propulsión para la industria aeroespacial, ha conseguido una inversión de 23 millones de euros liderada por Hyperion Fund, empresa especializada en tecnologías aeroespaciales, ciberseguridad, IA y defensa. Esta es la nota de prensa publicada por esta empresa en su web:

Pangea Aerospace, a startup specializing in the development of propulsion systems for the aerospace industry, has secured a €23 million Series A investment led by Hyperion Fund, which focuses on aerospace, cybersecurity, AI, and defense technologies. The round was backed by existing investors, including Primo Capital through its Primo Space Fund and CDTI Innvierte. Additionally, French investor and former Ariane Group CEO André-Hubert Roussel has joined the round.

Founded in 2018, Pangea Aerospace is based in Barcelona and Toulouse, specializing in the development of advanced propulsion technologies for the space industry. Its innovative propulsion systems enable more efficient and reusable rockets using sustainable propellants, while also offering cost-efficient and sustainable solutions for in-space mobility, significantly reducing costs for launchers, satellites, and orbital transfer vehicles.

With this funding, Pangea will accelerate its expansion in the European market, aiming to grow its private and institutional customer base. The company was selected several months ago by the European Space Agency (ESA) to define the very high-thrust rocket engine for future European reusable launchers and is also participating in various projects related to the development and integration of its ARCOS engine and the reuse of upper stages using aerospike technology. In addition, Pangea is collaborating with ESA and a consortium of companies to design, manufacture, and validate key technologies for the next generation of large European rocket engines—two strategic contracts that reinforce Pangea’s position as a leading European propulsion provider.

Strengthening European technological sovereignty and strategic independence

This investment will enhance Pangea’s manufacturing, integration, and testing capabilities, advancing the development of strategic technologies to reinforce national and European aerospace sovereignty at a time of growing global competition.

Currently, an average of four to five satellites are launched into space daily, with more than 10,000 satellites already in orbit. By 2025, projections suggest that between 2,500 and 3,000 satellites will be launched, driven by the expansion of megaconstellations and new initiatives in telecommunications and Earth observation.

According to 2023 data, 52% of these launches were conducted by U.S. operators, with SpaceX accounting for 84.4% of them. Meanwhile, China carried out 30% of launches. In response, European authorities are committed to developing their own capabilities in this critical sector—essential for telecommunications, mobility, and defense—to achieve strategic independence as soon as possible.

Propulsion innovation to drive the growth of the space sector

Propulsion systems typically account for 30% of a rocket’s total development cost. Moreover, propulsion systems define a launcher’s performance and are responsible for 50% of launch failures, making them a key factor in the industry’s development.

Pangea Aerospace is the only company in Europe exclusively dedicated to space propulsion systems, providing solutions for launch vehicles and other spacecraft. It follows a business model similar to Rolls-Royce in the aviation industry, which has already been validated with multiple private clients.

The company’s competitive advantage lies in its proprietary technologies, which enable more efficient and cost-effective propulsion systems, allowing clients to maximize launch performance while reducing development time and costs. This is achieved through expertise in advanced materials and alloys, aerospike technology, additive manufacturing, innovative cooling systems, reusability, and sustainable propellants.

This expertise is critical for the future of the industry and reinforces Pangea’s position as a global leader in space propulsion. Pangea is the first company in the world to successfully ignite an aerospike engine using sustainable propellants such as liquid methane and oxygen, a technology known for its scalability, sustainability, and reusability.

Having raised more than €8 million to date, Pangea has established itself as a key industry player. The company currently has eight active contracts with both private sector clients and institutions. It expects to double its revenue by 2025, with a pipeline of identified opportunities nearing €120 million.

Expanding investment in strategic aerospace technologies

Pangea’s founding team consists of aerospace and business experts: Adrià Argemí, Xavier Llairó, Luis Bellafont, Nicola Palumbo,  Federico Rossi, and Rasmus Bergström. With backgrounds in leading aerospace companies like Airbus, Northrop Grumman, and AVIO, they bring deep industry knowledge and innovation to the company. With this investment, Pangea will double its workforce and further develop its manufacturing, integration, and testing capabilities.

With this transaction, Hyperion Fund is launching its investment phase after raising €150 million as Europe’s first dedicated fund for aerospace, cybersecurity, AI, and defense. After evaluating 220 companies, Hyperion is currently in negotiations with top firms from NATO countries, leading advancements in artificial intelligence, robotics, geolocation, photonics, electromagnetics, and aeronautics.