Alén Space secured one million euro from BeAble Capital and the CDTI
Alén Space, a Vigo, Spain-based manufacturer of nano satellites, announced the completion of a EUR 1M ($1.M) capital investment round.
The funding was provided by BeAble Capital, a leading fund in technology in Spain, and by the Centre for the Development of Industrial Technology (CDTI).
The money will be used to accelerate the commercialization of its solutions, to access new markets, to develop new technology and products, and to provide greater capacities to manufacture small satellites that will allow them to absorb the expected growth.
Alén Space, founded in 2012 as a spin-off of the University of Vigo and led by CEO Guillermo Lamelas, provides consulting, design, manufacturing and operation services for small satellites, and offers turnkey solutions for space business development.
The company launched in 2012 the satellite Xatcobeo, the first Spanish nanosatellite. Since then, they have developed numerous projects in which they have collaborated with space agencies and institutions, such as the European Space Agency (ESA), NASA, the Brazilian Space Agency (AEB) and the United Nations Office for Outer Space Affairs (UNOOSA).
Alén Space was funded and supported by the Galician Innovation Agency (GAIN) through its Ignicia Program and accelerated by ViaGalicia.