Alén Space , specialized in providing consultance, design manufacturing and operations services for small satellites, has raised one million euros investment from BeAble Capital, a leading fund in technology transfer in Spain, and the Center for Industrial Technological Development (CDTI). At the same time, the enterprise offers turn-key solutions to develop new business in space.
The funds raised will allow the Spanish company to accelerate the commercialization of its solutions, access new markets, develop new technology and products to strengthen its differentiation and build new facilities for the manufacture of small satellites that will allow absorbing the expected strong growth.
BeAble Capital is committed to science as an economic engine with the objective of creating a competitive and valuable industry. About to finish a 2019 in which BEAble has become a leader investor in deep science, BeAble Capital enters the capital of Alén Space with an investment round of one million euros, where the CDTI participates (with the initiative of joint venture promoted through Innvierte Sustainable Economy) and BeAble Capital as lead investor.
Alén Space is a spin-off of the University of Vigo, whose team has been working for more than 10 years in the development of small satellites. This team launched in 2012 the Xatcobeo satellite, the first Spanish nanosatellite in history. Since then, they have developed numerous projects in which they have collaborated with the most demanding space agencies and institutions, such as the European Space Agency (ESA), NASA, the Brazilian Space Agency (AEB) and the United Nations Office for Foreign Affairs Outer space (UNOOSA). The birth of the company was funded and supported by the Galician Innovation Axencia (GAIN) through the Ignicia Program, and accelerated by ViaGalicia.
BUSINESS OPPORTUNITIES IN SPACE
At present, the space is no longer a competition between superpowers or megacorporations, but a business opportunity based on the savings allowed by new technologies thanks to small satellites. A nanosatellite weighs less than 10 kilos and allows applications such as Earth observation, communications, Internet of Things, geolocation, signal monitoring and scientific applications.
The nanosatellite market has not stopped growing in recent years. In 2012, 50 were launched worldwide, but in the next five years, according to SpaceWorks forecasts, their number will exceed 2,800. This market is expected to reach 5.2 billion euros in 2021.