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- Orbex Space
Orbex Space Funding, Investors & Competitors
Orbex Space has raised $160M across 5 funding rounds, most recently a $29M Series D in January 2025.
Last Orbex Space funding round
$29M
Series D · Jan 2025
Cumulative funding Orbex Space raised
$160M
across 5 funding rounds
Key investors in Orbex Space
Octopus Ventures
Heartcore Capital
HTGF
BGF Ventures
Export and Investment Fund
Scottish National Investment Bank
Verve Ventures
Vaekstfonden
About Orbex Space
Forres, Scotland-headquartered Orbex Space builds reusable rockets for small satellite launches into low Earth orbit. Its Prime vehicle accommodates micro and nano-satellites with in-house engines, avionics, guidance systems, and structures. Orbex operates from a UK spaceport site, offering scheduled missions with reduced costs due to European proximity.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Orbex Space Funding History
Orbex Space has raised a total of $160M across 5 funding rounds.
Orbex Space's first fundraising round was a $39M undisclosed-stage round in July 2018. The most recent completed round was a $29M Series D in January 2025.
Orbex Space funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2025 | Series D | Government of the UK (lead); Octopus Ventures; Export and Investment Fund; Sohaib Abbasi | $29M | Orbex Space, a UK-based rocket company developing the Prime microlauncher and Proxima medium launcher, announced its Series D funding round on January 29, 2025, raising 23 million pounds (about $28.7 million) to date, including 20 million pounds ($24.8 million) from the UK Government, contributions from Export & Investment Fund of Denmark (EIFO), Octopus Ventures, and private investor Sohaib Abbasi. The funding supports manufacturing and testing of the renewable bio-propane fueled Prime rocket for its first launch from SaxaVord Spaceport in late 2025, aiming to enable UK sovereign orbital launches from Scottish soil and create jobs in Forres. This marked the first direct UK government equity investment in a spaceflight company. By mid-2025, Orbex delayed its first test launch to 2026 and sought an additional 120 million pounds from private investors over four years. Total funding secured by late 2025 reached 138.5 million pounds, comprising 33.3 million in grants and 105.1 million in equity, with public investment at 76.7 million pounds including the 26 million pounds UK Government contribution in 2025 and 29 million from the Scottish National Investment Bank. UK Space Agency provided separate 5.5 million pounds grant support for Prime development. Orbex entered administration in early 2026 after failed fundraising, merger, and acquisition efforts, leading to most of its 163 employees being made redundant. Administrators from FRP Advisory are pursuing asset sales, with over 20 interested parties including rocket developers, while Skyrora explores acquiring Sutherland Spaceport assets for up to 10 million pounds. Potential buyer The Exploration Company (TEC) signed a letter of intent for assets like Proxima, pending UK government approval, amid prior ESA European Launcher Challenge funding disputes. |
| Apr 2024 | Series C | Octopus Ventures; Scottish National Investment Bank; Export and Investment Fund; Heartcore Capital; BGF Ventures | $21M | Orbex Space is a UK-based space access company developing the Prime microlauncher, a 19-meter two-stage rocket designed to carry up to 180 kg payloads to orbit, targeting demand for small satellite launches amid Europe's launch capacity gaps following Ariane 5 retirement and delays in Ariane 6 and Vega C. The company, founded in 2015 with offices in Forres, London, and Copenhagen, planned launches from Sutherland Spaceport in northern Scotland, incorporating patented REFLIGHT recovery technology for soft ocean splashdowns. In April 2024, Orbex kicked off its Series D funding with £16.7 million ($20.7-20.9 million) from investors including BGF Ventures, Export and Investment Fund (EIFO), Heartcore Capital, Octopus Ventures, and Scottish National Investment Bank, following a £40.4 million ($50 million) Series C in October 2022. Orbex reported total funding of around $53.6 million across multiple rounds by mid-2024, including a prior $4.2 million round in January 2024, with later investments like £20 million from the UK government in January 2025 as part of Series D. The company employed 163-201-500 staff focused on manufacturing and testing Prime, with UK Space Agency providing £5.5 million in grants for vehicle development and additional support for Sutherland Spaceport infrastructure. Orbex faced challenges post-2024, pausing Sutherland construction in December 2024 to prioritize vehicles and shifting first launches to SaxaVord Spaceport. By early 2025, it secured further public funds totaling £76.7 million including £26 million from UK Government and £29 million from Scottish National Investment Bank, reaching £138.5 million overall (£105.1 million equity, £33.3 million grants). However, in February 2025, Orbex entered administration after failed fundraising, mergers, and sales, leading to most staff redundancies; administrators engaged over 20 parties for asset sales, with Skyrora expressing interest in acquiring assets, IP, and infrastructure to preserve UK space capabilities. |
| Oct 2022 | Series C | Scottish National Investment Bank (lead); Octopus Ventures; Heartcore Capital; James Chambers; BGF Ventures; HTGF; Jacobs; Verve Ventures; Phillip Chambers; Vaekstfonden | $46M | Orbex Space is a UK-based spaceflight company developing the Prime rocket, a 19-metre two-stage micro-launcher designed to carry small satellites up to 180kg into low Earth orbit using renewable bio-fuel to reduce carbon emissions by up to 96%. The rocket launches from Space Hub Sutherland, the UK's first orbital spaceport in mainland Scotland. On October 18, 2022, Orbex closed its Series C funding round, securing £40.4 million led by the Scottish National Investment Bank, with participation from investors including Octopus Ventures, BGF Ventures, Heartcore Capital, High-Tech Gründerfonds, Vaekstfonden (via Export & Investment Fund of Denmark), and angel investors like Phillip Chambers and James Chambers. The funding supports scaling resources ahead of the first vertical launch from UK soil, ongoing R&D, manufacturing expansion in the UK and Denmark, and customer growth from the UK, Europe, and America for dedicated payloads. Scottish National Investment Bank provided significant equity, pivotal in attracting additional backers. Highlands and Islands Enterprise highlighted job creation in Moray and confidence in Orbex as a leader in Scotland's space sector. A later £16.7 million extension to Series C involved follow-on investments from Scottish National Investment Bank (£10.5 million), Octopus Ventures, BGF, Heartcore, and others to ramp up Prime development during pre-launch testing. By 2024-2025 context, Orbex planned commercial launches but faced challenges, filing notice of intent for administration after a failed Series D and merger talks, impacting over 150 employees despite prior support. |
| Dec 2020 | Series B | BGF Ventures (lead); Octopus Ventures (lead); Heartcore Capital; HTGF; Elecnor | $25M | Orbex Space is a UK-based space launch company developing the Prime rocket, a small-lift vehicle designed to carry up to 200kg payloads to low-Earth orbit using renewable bio-propane fuel for reduced emissions. The rocket features six engines on the first stage and one on the second, with recoverability to minimize debris. On December 10, 2020, Orbex secured a $24 million funding round co-led by BGF Ventures and Octopus Ventures, with participation from existing investors Heartcore Capital, High-Tech Gründerfonds (HTGF), Elecnor S.A., UK Space Agency, ESA, and European Commission Horizon 2020. This brought total funding to around $63-69 million, following a prior round of about $39-45 million in 2018. The funds support rocket development, manufacturing at facilities in Scotland and Denmark, and preparation for first commercial launches targeted for 2022 from Space Hub Sutherland in Scotland, where Orbex holds six launch contracts. Orbex emphasizes sustainability with 90% emissions reduction compared to kerosene fuels and heavy use of 3D-printing in fabrication. The company had conducted hundreds of engine tests since 2017 by late 2020. Investors highlighted Orbex's progress as a leader in the UK space sector. |
| Jul 2018 | Undisclosed stage | Heartcore Capital (lead); HTGF (lead) | $39M | Orbex Space is a UK-based space launch company developing the Prime rocket for small satellite launches from the Sutherland spaceport in Scotland, focusing on eco-friendly propulsion with patented coaxial tanking technology. The company has secured multiple funding rounds from investors including Heartcore Capital and High-Tech Gründerfonds (HTGF), with a $24 million round announced in December 2020 led by BGF and Octopus Ventures, where Heartcore and HTGF participated as existing investors. A prior round of around $39 million was referenced in 2020 coverage, aligning with the 2018 timing involving these investors. Subsequent rounds include a £40.4 million Series C in October 2022 led by the Scottish National Investment Bank, with renewed commitments from BGF, Heartcore Capital, HTGF, and Octopus Ventures. In April 2024, a Series D raised $20.83 million from similar investors including BGF, Heartcore, and others. Orbex has also received grants like £5.5 million from the UK Space Agency in 2018 and €2.5 million from Horizon 2020. Total funding exceeds $171 million across 13 rounds as of early 2026, when the company entered bankruptcy/admin proceedings. Traction includes customer contracts from UK, Europe, and US for dedicated launches, manufacturing expansion in UK and Denmark, and development toward first launches, though delays occurred. The private space sector context highlights Orbex as a leader in European small satellite launches, competing with rideshares from US, India, and others, emphasizing dedicated missions. |
Who has invested in Orbex Space?
14 investors have backed Orbex Space across its funding rounds, including Octopus Ventures, Heartcore Capital, HTGF, BGF Ventures, Export and Investment Fund and Scottish National Investment Bank.
Lead investors include Government of the UK, Scottish National Investment Bank, BGF Ventures, Octopus Ventures, Heartcore Capital and 1 other investor.
Orbex Space Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Dec 2020 | ||
| 4 | Lead | Jul 2018 | ||
| 3 | Lead | Dec 2020 | ||
| 3 | Lead | Jul 2018 | ||
| 2 | Lead | Oct 2022 | ||
| 2 | Participant | Apr 2024 | ||
| 1 | Lead | Jan 2025 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
| 1 | Participant | Oct 2022 | ||
This data is available for Pro users. Sign up to see all 14 Orbex Space investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialOrbex Space Competitors
Orbex Space competitors include listed companies like SpaceX, Lockheed Martin, Northrop Grumman and Rocket Lab, and private ones like Stoke Space and Agile Space Industries.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $19B | $3.9B | $2.0T | - | ||
| Publicly listed | $75B | $8.7B | $124B | 1.8x | ||
| Publicly listed | $42B | $7.2B | $74B | 2.0x | ||
| Publicly listed | $602M | ($181M) | $43B | 48.0x | ||
| Private | - | - | $9B | - | ||
| Private | $28M | - | $8B | 285.7x |
Orbex Space Public Comps
Orbex Space is still privately-owned, but its public comps include SpaceX, GE Aerospace, RTX, Airbus, Rolls-Royce, Safran, Boeing, Lockheed Martin, Parker Hannifin and General Dynamics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $19B | $3.9B | 106.0x | - | 503.3x | - | |||
| $46B | $11B | 7.3x | 7.0x | 30.2x | 29.1x | |||
| $89B | $15B | 3.3x | 3.1x | 19.7x | 19.4x | |||
| $85B | $11B | 2.1x | 1.9x | 16.0x | 14.3x | |||
| $28B | $11B | 5.5x | 5.2x | 14.8x | 22.4x | |||
| $36B | $13B | 4.3x | 3.8x | 11.5x | 17.6x | |||
| $89B | $7.4B | 2.0x | 1.9x | 24.7x | 37.2x | |||
| $75B | $8.7B | 1.9x | 1.8x | 16.1x | 13.1x | |||
This data is available for Pro users. Sign up to see all Orbex Space competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Orbex Space
| When was Orbex Space founded? | Orbex Space was founded in 2015. |
| Where is Orbex Space headquartered? | Orbex Space is headquartered in Inverness, United Kingdom. |
| Is Orbex Space publicly listed? | No, Orbex Space is a private, VC-backed company. |
| How much funding has Orbex Space raised? | Orbex Space has raised $160M across 5 funding rounds. |
| What was Orbex Space's last funding round? | Orbex Space's last funding round was a $29M Series D in January 2025, led by Government of the UK. |
| Who are Orbex Space's investors? | Orbex Space's investors include Octopus Ventures, Heartcore Capital, BGF Ventures, HTGF, Scottish National Investment Bank, Export and Investment Fund, Government of the UK, James Chambers, Jacobs, Verve Ventures and 4 others. |
| Which companies are comparable to Orbex Space? | Companies comparable to Orbex Space include SpaceX, Lockheed Martin, Northrop Grumman, Rocket Lab, Stoke Space and Agile Space Industries. |
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