Austria's Tumbleweed Raises EUR 6.9m for Microgravity Space Missions
The SpaceTech startup secured funding four months after launching Austria's first commercial satellite, in what it says is the country's largest SpaceTech seed round.
AfroEuropa Newsroom
AfroEuropa desk
Austrian SpaceTech company Tumbleweed has raised EUR 6.9 million in what it describes as the largest SpaceTech seed round ever closed in the country, according to EU-Startups. The round came four months after the startup placed Austria's first commercial satellite into orbit.
The financing was led by PactVC, with participation from Vanagon Ventures, early backer Prototype Capital, and EWOR. More than a third of Tumbleweed's 25-person team also contributed personal funds to the round.
The company's focus is on making microgravity available as an industrial resource. CEO and co-founder Julian Rothenbuchner said the funding would allow the company to scale what it demonstrated on its first mission, Oasis Alpha, telling EU-Startups that microgravity could be used to develop better cancer treatments, semiconductors, and faster-developed pharmaceuticals.
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