Aurora Propulsion Technologies announced raising €1.7 million seed round led by Practica Capital.

Aurora Propulsion Technologies, an Espoo, Finland-based new space manufacturer, announced that it secured seed funding in a round closed at €1.7 million ($2M).

The money was raised from investors led by the Lithuanian VC firm Practica Capital, joined by Tesi (Finnish Industry Investment Ltd.) and The Flying Object, a fund from Kluz Ventures.

Aurora Propulsion Technologies, founded in 2018 by CEO Roope Takala, is a manufacturer of space-based products - the ARM (Aurora Resistojet Module for Attitude control), a 6-thruster attitude control module capable of full 3-axis attitude control, orbital maneuvering and collision avoidance, and the Aurora plasma brake, a deorbiting device utilising the coulomb force to generate drag.

The company put them together in a satellite, AuroraSat-1, a 1.5U CubeSat. The company says that these payloads were developed from idea to integration within six months and that it was integrated by SatRevolution and will be launched to Low Earth Orbit with Momentus Space’s orbital transfer platform on a SpaceX Falcon 9 rocket in H1 2021.