Latitude, the company that designed the French light space launcher Zephyr scheduled for maiden launch in 2025, continues its rapid growth. This $30 million fundraising round is supported by Latitude's existing investors(Crédit Mutuel Innovation, Expansion, DeepTech 2030 a France 2030 fund managedby Bpifrance, and UI Investissement), as well as Blast.club, which has entered Latitude's capital.
Kima Ventures and Mr. Vincent Luciani, Artefact’s CEO and investor, joined them.
"Our investors' continued support is a recognition of our eighteen months of hard work, significant accomplishments, and expansion to become a market leader by the end of the decade. 2024 is a pivotal year for Zephyr's first flight in 2025, and for serving our first customers”, shared Stanislas Maximin, Latitude’s CEO and co-founder.
This Series B ended a ground-breaking 2023 year for the French company. Within a year, the company has:
- Conducted two distinct tests for its 3D-printed rocket engine;
- Developed the second iteration of the rocket engine, paving the path for significant performance advancements;
- Opened its private 3 hectares Test Center in Vatry, France, the second liquid propulsion engine-compliant test area in France;
- Doubled the surface area of its factory (3000m²);
- Exceeded the 100 employees mark;
- Secured funding from France 2030 (AAP Micro Launchers);
- Attracted strong commercial interest.
With this financing, the next Zephyr evolution will continue to be designed and the operational and industrial groundwork for the first launch, which is anticipated in 2025, is secured. Indeed, the light launcher will be able to carry 200 kg of payload by 2028. Specifically, this new private investment will result in:
- The first launcher’s manufacturing;
- The assembly line’s establishment;
- The electrical, propulsion and fluidic systems and structural tests;
- The Test Center’s operational status;
- The new talent’s recruitment.
"A key component of Crédit Mutuel Innovation's strategy is supporting projects at the forefront of French technology andindustrial know-how. Renewing our trust in Latitude was therefore a logical decision. The company possesses all the key success factors required to advanceits R&D while accelerating its industrial momentum. Stanislas and his team have the expertise needed to lead the micro-launcher industry in the future.”, affirmed Maxence Valero, Crédit Mutuel Innovation’s Investment Director.
"We are very proud to increase Expansion's stake in Latitude. Europe needs to regain full sovereignty over space launchers. The development of healthy competition will result in the emergence of a diverse range of competitive players, potentially world champions. Latitude is leading the way in low-earth orbit payloads for future mega constellations (up to 200kg) in France, thanks to its technological choices and speed of execution.”, add Charles Beigbeder, Expansion’s cofounder.
“The French government has made supporting growing players in the space sector one of its primary objectives under France 2030. The French government's Deep Tech 2030 fund provides tangible support for this purpose. Bpifrance is proud to be part of this new chapter for Latitude.This new investment gives the company all the resources it requires to be successful as it enters an industrial phase. We are thrilled to go further in our relationships with Latitude’s teams and support them along on their journey as they strive toward Zephyr's launch and industrialization.”, said Adrien Muller, Bpifrance’s Investment Director.
“Stanislas' vision and desire in such a strategic and strategic sector,as well as his ability to surround himself with experts, impressed the entire Blast team. We are convinced of Latitude's potential, and are proud to support him on this adventure.”, commented Anthony Bourbon, Blast’s founder.
"UI Investissement is thrilled to contribute to the growth of Latitude, which precisely embodies our investment philosophy of supporting the emergence and development of regional gems that will be the thriving tomorrow’s actors of the territory. Since our initial round in 2020, the company has made significant progress in attracting talent to Reims, and with this new round of financing, it will be equipped to pursue its ambitious vision. "We can't wait to see what happens next! ", declared Elisa Le Tallec, UI Investissement’s Business Manager.
Press Enquiries:
Florian Randria – florian.randria@latitude.eu –+33.7.89.25.49.13
Resources: https://www.dropbox.com/scl/fo/rmjdlg7f8gmtrfv0qj5e5/h?rlkey=57rf9d48ibplt46xpaxbw133i&dl=0
About Latitude
Latitude is a French NewSpace company specialized in the design and production of light space launchers. Its 19-meter light launcher Zephyr focuses on the launch of small satellites into space. Zephyr, its 19-meter-tall space launcher, is dedicated to launching small satellites into space. The company, which employs more than 100 people, focuses on a lightweight, dedicated, reliable and cost-effective launcher, to meet the challenges of smallsat operators.
More information: www.latitude.eu
About Crédit Mutuel Innovation
Crédit Mutuel Innovation is the venture capital subsidiary of Crédit Mutuel Equity (€4 billion in money under management). It invests from €1 to €20million in innovative firms in the digital, life sciences, and deep tech industries. Crédit Mutuel Innovation encourages entrepreneurs in reaching their growth potential by connecting them to the firms in its ecosystems. Because it takes more than 5 years to turn into an international leader, Crédit Mutuel Innovation invests its own capital on a long-term basis and nurtures long-term partnerships with the entrepreneurs it supports.
More information: www.creditmutuel-innovation.eu
About Expansion
Expansion is one of the first European venture funds focused on new space and air mobility. Expansion, which is backed by the EIF, has recently begun its subscription period for an initial minimum of €100 million, with the goal of raising €300 million. Audacia, Charles Beigbeder, Sandra Budimir, Ted Elvhage, and Ulf Palmnäs established the fund jointly. Expansion's portfolio includes 14 start-ups in the New Space and New Air Mobility sectors.
About Blast
Blast. is a private club where members can invest in tomorrow's French companies with Anthony Bourbon, Éric Larchevêque, and leading sector experts for €1,000 to€100,000 each.
More information: www.blast.club
About France 2030
France 2030 Investment Plan :
· Reflects a twofold ambition: to transform key industries of our economy (healthcare,energy, automotive, aeronautics, and space) through technological innovation, while also positioning France as a leader in tomorrow's world.
· The size of the plan is unprecedented: €54 billion will be invested to support our companies, universities, and research organizations in successfully transitioning to the sestrategic sectors. The goal is to enable them to respond competitively to the ecological and attractiveness challenges facing tomorrow's world, as well as to build future champions in our excellence sectors.
· Will be implemented collaboratively: designed and deployed with economic, academic, local, and European stakeholders to identify strategic orientations and flagship initiatives.
· Led by the Secrétariat Général pour l'Investissement on behalf of the Prime Minister, and implemented by the Agence de la Transition Ecologique (ADEME), the Agence Nationale de la Recherche (ANR), Bpifrance and the Banque des Territoires.
About Bpifrance
Bpifrance's equity investments are supervised by Bpifrance Investissement. Bpifrance provides credit, guarantees, and equity financing to companies at all stages of development. Bpifrance helps them with their innovation and international projects. Bpifrance now supports their export business through a diverse selection of products. Consulting, university, networking, and accelerationprograms for startups, SMEs, and ETIs are among the services available to entrepreneurs.
More information: www.bpifrance.fr - https://presse.bpifrance.fr/
Follow us on Twitter : @Bpifrance - @BpifrancePresse
About UI Investissement
UI is an independent company that specializes in the development of unlisted French companies. For almost 50 years, UI has been committed to collaborating with the leaders of promising SMEs and ETIs to build and grow economically and sustainably profitable businesses.
UI Investissement manages around 1.5 billion euros in assets and invests with 400 managers in societally important industries such as healthcare, agri-business, industry, and services. Expansion and buyout capital, which has always been at the heart of UI's business, accounts for more than half of assets under management and enables more than 50 companies to benefit from UI's operational skills and approach. Simultaneously, the teams and investment vehicles dedicated to innovation and consolidation enable us to support companies throughout their life cycle while also fostering regional economic dynamism.
UI currently employs over 70 employees and has over ten regional locations, including Nantes, Orléans, Rennes, Caen, Reims, Strasbourg, Dijon, Besançon, Clermont-Ferrand, Lyon, Limoges, Marseille, and Lille, in addition to its Paris staff.
Press Enquiries: Laurent Maillard – 06 60 59 77 07 – communication@ui-investissement.fr
More information: www.ui-investissement.fr
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