Orbex Space, a UK-based space travel and space launch company, has secured GBP 40.4 million (~USD 46 million) in a Series C funding round led by the Scottish National Investment Bank with participation from new (Jacobs, The Danish Green Future Fund, Verve Ventures, Philip and James Chambers) and existing (BGF, Heartcore Capital, High-Tech Grunderfonds, Octopus Ventures) investors.

The funding is expected to support the company to scale up its resources in view of its first launch from the UK and provide additional funding for future projects.

Orbex Space, founded in 2015 provides space launch services for the small satellite industry. Orbex’s Prime launch vehicle is its main offering with a capacity to carry payloads up to 180kg into Sun Synchronous Orbit (SSO) launching from Space Hub Sutherland. The company’s rocket is designed to be reusable and claims to be carbon neutral in terms of construction and operation.