Practica Capital is an early-stage VC dedicated to backing Baltic founders. We have invested exclusively in tech potential in the Baltic States for the last 10 years. We back great founders in their ambition in seed and selected pre-seed and A stages partnering with them as company builders. Practica Capital manages three funds with €52M in AUM. To date, we have made more than 60 investments, including great companies like TransferGo, PVcase, Interactio, Eneba, Ovoko, Trafi, CGtrader, and others. We are the most active Baltic syndicate partner co-investing with local, regional, and international VCs & PEs, accelerators & incubators, angels, corporates, public agencies, banks, crowdfunding platforms, and others.

Practica Capital

The Flying Object is a global venture fund focused on the commercial drone industry.

The Flying Object

Finnish Industry Investment Ltd is a government-owned investment company. It invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses.  Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with private co-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings.  The investments of Finnish Industry Investment amount to over MEUR 570

Tesi

The European Innovation Council aims to support top-class innovators, entrepreneurs, small companies, and researchers with bright ideas. The EIC co-invests alongside private investors in early-stage startups that have ESG impacts.

European Innovation Council

Aurora Propulsion Technologies

Aurora Propulsion Technologies provides satellite manufacturers with highly reliable mass-produced and high quality, components for attitude (orientation) and orbit control. The vision is to enable small (1- 15 kg) satellite manufacturers to be able to conduct their satellite missions effectively and take their satellites anywhere, be it to Low Earth orbit or other planets in the solar system.

Aurora Propulsion Technologies specializes in manufacturing components for attitude and orbit control for small spacecraft. The company provides two main product lines: the Plasma Brake and ResistoJet thrusters. The Plasma Brake is a deorbiting solution that uses Coulomb drag via plasma interaction to safely remove CubeSats, SmallSats, and launch vehicle stages from orbit. This system can operate at altitudes up to 1000km and is compatible with satellites weighing up to 1000kg, utilizing an ultrathin 50 μm diameter microtether. The ResistoJet product line includes various modules such as the ARM-O and ARM-A, which use water-based propellant technology for propulsion. The ARM-O module, featuring one to four ResistoJet thrusters, enables orbit altitude changes, collision avoidance, and station keeping. The ARM-A module provides three-axis attitude control with six ResistoJet thrusters. These modules are available in form factors ranging from 0.35U to 1U, with customizable tank sizes. The company's Collision Avoidance Unit (ARM-C) is a microscale water-based propulsion system weighing approximately 80g and occupying less than 0.05U of space. The system is scalable, with single units suitable for satellites up to 25kg and multiple units capable of supporting satellites up to 300kg. The company is also developing plasma technology for electric sail applications in deep space exploration.

Technology providers that enhance satellite operations

Next-gen Satellites

Aurora Propulsion Technologies closes €1.7M seed for spacecraft maneuvering and deorbiting tech

Aurora Propulsion Technologies specializes in manufacturing components for attitude and orbit control for small spacecraft. The company provides two main product lines: the Plasma Brake and ResistoJet thrusters. The Plasma Brake is a deorbiting solution that uses Coulomb drag via plasma interaction to safely remove CubeSats, SmallSats, and launch vehicle stages from orbit. This system can operate at altitudes up to 1000km and is compatible with satellites weighing up to 1000kg, utilizing an ultrathin 50 μm diameter microtether. The ResistoJet product line includes various modules such as the ARM-O and ARM-A, which use water-based propellant technology for propulsion. The ARM-O module, featuring one to four ResistoJet thrusters, enables orbit altitude changes, collision avoidance, and station keeping. The ARM-A module provides three-axis attitude control with six ResistoJet thrusters. These modules are available in form factors ranging from 0.35U to 1U, with customizable tank sizes. The company's Collision Avoidance Unit (ARM-C) is a microscale water-based propulsion system weighing approximately 80g and occupying less than 0.05U of space. The system is scalable, with single units suitable for satellites up to 25kg and multiple units capable of supporting satellites up to 300kg. The company is also developing plasma technology for electric sail applications in deep space exploration.
Key customers and partnerships
In May 2021, Aurora Propulsion Technologies partnered with Orbital Transports to include their ResistoJet products in the SmallSat Catalog, making their propulsion systems available through this digital portal for the small satellite industry.

SmallSat Catalog Adds Aurora Propulsion ResistoJet Products

SpinLaunch is a space technology company developing a kinetic launch system to provide low-cost and high-frequency access to space. Unlike traditional fuel-based rockets, SpinLaunch's system utilizes a ground-based, electric-powered centrifuge to accelerate payloads to hypersonic speeds before releasing them into the atmosphere. Its solution is capable of putting 200 kg-class satellites into low orbit. The firm claims this method significantly reduces environmental impact by ~95% compared to conventional rocket launches. Its electric-drive Orbital accelerator offers a revolutionary approach to space travel and significantly reduces the fuel needed to reach orbit by 4x, mitigates costs by 10x, and enables multiple launches per day.Suborbital Accelerator operates at speeds between 800 miph and 5,000 miph, and primarily serves as a testing platform for the Orbital Launch System. It allows customers to conduct tests and serves as a facility for long-term satellite qualification. The company’s first major milestone was the successful test of its suborbital accelerator at Spaceport America in New Mexico in October 2021, where a projectile was launched tens of thousands of feet at 20% power capacity. SpinLaunch also planned to launch small satellites into low-Earth orbit by 2026.SpinLaunch has also created a new type of highly affordable satellite. It claims that applying mass manufacturing techniques and simplifying the supply chain reduces costs without compromising performance. SpinLaunch’s satellites are specifically designed for mass accelerators but are also compatible with traditional launch systems and serve a variety of use cases, such as surveillance broadcasts, Internet of things (IoT), machine-to-machine communication (M2M), and emergency communication platforms.<h3>Key customers and partnerships</h3>In September 2023, SpinLaunch partnered with Sumitomo Corporation (Japan) for the global expansion of affordable and sustainable space services. SpinLaunch has also attracted significant interest and formed strategic partnerships with major organizations, including ATW Partners, Kleiner Perkins, and GV. In 2019, the Department of Defense signed a "launch prototype contract" with SpinLaunch to provide reliable and cost-effective launch services​.Funding and financialsIn September 2022, SpinLaunch secured USD 71 million in a Series B funding round led by ATW Partners to continue developing its launch system and satellite technologies​. In January 2020, the company raised USD 35 million from venture capitalists to aid the development of its kinetic launch system.

SpinLaunch

Rocket Lab is a global leader in launch services and space systems, offering a comprehensive range of solutions from satellite manufacturing to orbital launches. The company's primary launch vehicle, Electron, has become the second most frequently launched US rocket annually, having delivered over 190 satellites to orbit for various commercial and government partners. Electron is capable of carrying payloads of up to 300 kilograms to low Earth orbit. In addition to Electron, Rocket Lab has developed HASTE, a suborbital hypersonic launch vehicle.Rocket Lab is currently developing Neutron, an advanced 13-tonne payload class reusable launch vehicle designed for constellation deployment and interplanetary missions. The company successfully conducted the first hot fire test of its Archimedes engine in August 2024, which will power Neutron's first stage. Neutron's unique design encapsulates its second stage within a reusable first stage with an integrated payload fairing. Rocket Lab aims to launch Neutron by mid-2025, potentially marking the fastest time to market for a commercially developed medium-class launch vehicle.Beyond launch services, Rocket Lab has established itself as a premier supplier of advanced satellites, flight-proven subsystems, and spacecraft components. The company's technology spans various areas, including space solar power, composite structures, flight software, star trackers, reaction wheels, and separation systems. As of August 2024, Rocket Lab's satellite technology and components have been integrated into more than 1,700 satellite missions globally. In the second quarter of 2024, Rocket Lab reported record revenue of USD 106.3 million, representing a 71% year-over-year increase. &nbsp;In&nbsp;<a href="https://sp-edge.com/updates/36523">November 2024</a>, Rocket Lab completed two Electron rocket launches from two hemispheres in under 24 hours.&nbsp;Key customers and partnershipsRocket Lab has secured partnerships with several high-profile customers and organizations. The company has conducted multiple launches for NASA, including the CAPSTONE mission to the Moon in 2022 and the upcoming ESCAPADE mission to Mars. In August 2024, Rocket Lab delivered two spacecraft for the ESCAPADE mission to Cape Canaveral.Rocket Lab has also established a strong relationship with Capella Space, having completed five missions for the company since August 2020. In August 2024, Rocket Lab successfully launched Capella Space's Acadia-3 satellite, a synthetic aperture radar (SAR) satellite, into orbit. Additionally, the company has partnered with the University of California Berkeley's Space Science Laboratory to build spacecraft for NASA missions. &nbsp;<a href="https://sp-edge.com/updates/35960">In November 2024</a>, Rocket Lab signed a multi-launch agreement with an undisclosed commercial satellite operator for its Neutron rocket.

Rocket Lab

D-Orbit, an Italy-based company, specializes in satellite deployment, in-space transportation, and in-orbit servicing through its ION Satellite Carrier. The ION reduces satellite deployment time by up to 85% and costs by 40%. By December 2024, D-Orbit had completed 13 missions, deploying 110 satellites and 44 hosted payloads. It was the world’s first B Corp-certified space company.D-Orbit delivers services covering satellite deployment, in-orbit maintenance, mission control, and advanced space solutions. Deployment options include Rideshare, which uses third-party launchers for standard orbits; Precision Deployment, which uses the ION Satellite Carrier to tailor orbital placements; and Constellation Deployment, which phases satellites into optimal positions. D-Orbit's Aurora cloud platform supports real-time telemetry monitoring, trajectory updates, telecommands, and 3D visualization, enabling operators to manage satellites efficiently or delegate control to D-Orbit to streamline operations.In-orbit services encompass transportation, lifetime extension, assembly, refurbishment, debris removal, and inspection. Advanced offerings include the ION Hosted Payload Service for technology testing, in-orbit data computing via D-Orbit Cloud, and a SaaS model. The IRIDE constellation project, financed by Italy’s National Plan for Recovery and Resilience and supported by the European Space Agency (ESA) and Italian Space Agency (ASI), aims to provide Earth observation data for public services like marine monitoring, air quality, and climate analysis. Launches were planned from 2025 to 2026.The company also offers satellite hardware and software, such as the AOCS Suite for satellite control, the D-Sense module for positioning, and systems like D-Raise for propulsion and D3 for satellite disposal.&nbsp;Key customers and partnershipsD-Orbit's customer base includes ESA, ASI, Planet Labs, Spaceflight, Ensign-Bickford Aerospace &amp; Defense (EBAD), the University of Southern California, Brown University, and TelePIX from South Korea.Early partnerships by the company included&nbsp;<a href="https://spacenews.com/d-orbit-launches-two-ion-satellite-carrier-on-its-seventh-orbital-transportation-mission/#:~:text=D%2DOrbit%20launched%20its%20first,more%20than%2090%20payloads%20collectively.">SpaceX</a> for deploying ION Satellite Carrier missions and collaborations with&nbsp;<a href="https://spacenews.com/d-orbit-launches-aurora-a-cloud-based-mission-control-software-suite/">Leaf Space and AWS</a> Ground Station to enhance the Aurora platform's global mission control. Significant partnerships also included&nbsp;<a href="https://techcrunch.com/2024/05/07/starfish-space-and-d-orbit-complete-orbital-rendezvous-bringing-otter-pup-mission-to-a-close/">Starfish Space</a> for orbital rendezvous,&nbsp;<a href="https://spacenews.com/d-orbit-signs-agreement-with-hyimpulse-technologies-for-joint-eu-based-launch-and-deployment-mission/">HyImpulse Technologies</a> for EU-based satellite launch and deployment services,&nbsp;<a href="https://metasensing.com/metasensing-selected-to-provide-the-sar-payload-sensor-for-the-nox-mission-in-italys-iride-constellation/">MetaSensing</a> for supporting ESA's IRIDE Earth observation project, and&nbsp;<a href="https://www.spacedaily.com/reports/D_Orbit_and_SkyServe_enhance_satellite_analytics_with_new_edge_computing_platform_999.html">SkyServe STORM</a> for utilizing Edge computing in space-based data processing.In&nbsp;<a href="https://sp-edge.com/updates/34798">October 2024</a>, ESA awarded D-Orbit a contract to develop a spacecraft-servicing vehicle for geostationary satellites and in&nbsp;<a href="https://sp-edge.com/updates/36352">November 2024</a>, D-Orbit partnered with Morpheus Space to demonstrate the GO-2 electric propulsion system aboard its orbital transfer vehicle.&nbsp;

D-Orbit

Phantom Space Corporation is a space services company providing all-in-one capabilities for satellite manufacturing and launch services to commercial and government clients.Phantom Space caters to launch services primarily using its launch vehicle, Daytona Rocket, which is a two-stage system designed to carry payloads of up to 450 kg, including satellites and other space cargo into low-Earth orbit (LEO), for less than USD 4 million per launch. In addition to the Daytona, Phantom Space was developing the larger Laguna rocket, scheduled for launch in 2025, to be powered by a combination of Ripley and Hadley engines produced by Ursa Major to increase payload capacity to 1,200 kg for LEO missions at USD 8 million per launch.In November 2022, the company achieved a major milestone by conducting a successful 60-second hot fire test of the Daytona's Pathfinder test stage at Spaceport America in New Mexico, validating approximately 75% of the vehicle's systems in a flight-realistic condition.The company also provides solutions for designing, manufacturing, and operating small satellites, ranging from single CubeSats to constellations of ESPA-class spacecraft. As of May 2024, Phantom Space had 46 satellite and spacecraft programs successfully executed, while three were currently in progress.As of June 2023, the company aimed to offer affordable access to space through its proprietary rocket and satellite designs. To this end, Phantom Space aimed to employ mass production techniques to reduce costs and increase the frequency of space access for government and commercial entities. Key customers and partnershipsIn May 2023, Phantom Space signed a launch services agreement with Quub, a satellite manufacturer, for three dedicated launches in 2025.In November 2022, Phantom Space secured task orders from NASA for the agency's Venture-Class Acquisition of Dedicated and Rideshare (VADR) missions program. The orders involved launching four CubeSat satellites on the second and fourth Daytona rocket flights from Vandenberg Space Force Base, planned for 2024.

Phantom Space

The Beyond Earth Institute is a space policy think tank focused on human spaceflight established in 2010. The organization operates as a 501(c)(3) non-profit corporation with a mission to establish and sustain policy and legal frameworks that enable economically vibrant communities beyond Earth. The institute conducts primary and secondary research to develop and publicize reports and policy recommendations throughout space policy communities in the US and internationally. Their work centers on catalyzing technology readiness, worldwide public support, and public policies needed to achieve a permanent human presence in space. The organization's research and policy efforts particularly focus on enabling long-term human settlement beyond Earth and developing the cislunar economy.
Key customers and partnerships
Beyond Earth has collaborated with Space Perspective. In January 2023, the organization worked with Japanese space company ispace to support their Hakuto-R moon lander mission, which launched on a SpaceX Falcon 9 rocket.

Beyond Earth

Companies that offer launch capabilities to get satellites into orbit, including last-mile delivery of satellites and value-added services including launch mission planning and execution

Companies that provide satellite management services once they are deployed

Includes companies that develop satellite buses and payloads for mini, micro and nano systems

Companies that manufacture components for mini, micro, nano, and picosatellite systems

Satellite companies that offer location-based intelligence, navigation, mapping, spatial awareness, and data analytics services

Use of autonomous robotics in the production process, specially in the miniature satellite segments

Aurora Propulsion Technologies

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